Green considers sale of Arcadia to Chinese

HIGH street mogul Sir Philip Green is considering selling all or part of his Arcadia Group empire to a rapidly expanding Chinese firm.

The 65-year-old billionaire is believed to be in talks with Chinese textiles giant Shandong Ruyi over the future of the group, which includes Topshop, Topman, Burton Menswear, Miss Selfridge and Dorothy Perkins, according to The Sunday Times.

It comes as traditional High Street stores are struggling against the rise of online rivals.

The sale of the Arcadia, which has 2,800 stores and 26,000 employees globally, would mark the end of an era for the British retail industry and also lead to the probable retirement of Sir Philip after a controversial 50year career.

Arcadia saw profits plunge 16pc in 2016 as it dealt with costs related to the collapse of High Street department store BHS, which Sir Philip sold for £1 to serial bankrupt Dominic Chappell the year before.

Sir Philip was unavailable for comment yesterday.