Green empire failure leaves taxpayer liable for £50m staff payoffs
With few jobs expected to be saved, staff will have to claim statutory payments from the Government
30 January 2021 • 9:30pm
The Sunday Telegraph can reveal.
Statutory notice and redundancy payments owed to almost 13,000 Arcadia Group staff total £47.6m, according to calculations prepared by administrators Deloitte.
The accountancy firm was this weekend finalising terms with online retailers Asos and Boohoo to carve up Sir Philip’s empire.
Asos entered exclusive talks to buy Topshop, Topman, Miss Selfridge and HIIT brands last weekend, and is expected to complete the acquisition as early as Monday, according to City sources.
Fashion giants finally cotton on to plight of the Uighurs
Efforts are growing to identify cotton picked by China s oppressed population as Western fashion firms face tougher measures
25 January 2021 • 5:00am
Members of the Muslim Uighur minority hold placards as they demonstrate in front of the Chinese consulate in Istanbul at the end of 2020
Credit: BULENT KILIC /AFP
A search for “uighur” or “uighur cotton” - for the two are inextricably linked - on Google Trends shows that until last year the terms barely appeared in people’s internet searches.
This has begun to change as governments and businesses around the world grapple with increasingly alarming reports that forced labour is being used on a vast scale in China’s Xinjiang region.
Dr Martens boss will get £58m payday in bumper £3.5bn stock market float
Listing will hand senior staff £350m after private equity owner gives the famous bootmaker a new lease of life
24 January 2021 • 4:48pm
The chief executive of Dr Martens is set for a £58m windfall in a stock market listing tomorrow which could see the bootmaker valued for as much as £3.5bn.
Kenny Wilson, who has led the business since 2018, is one of a number of bosses in line for a combined fortune of £350m,
The Sunday Times reported.
Dr Martens has flourished under its private equity owner Permira, which has invested in the company’s stores and online business, helping sales to soar almost six-fold to £672m since it took control in 2013.