Topshop offers bargain as Sir Philip Green buys back ‎25% stake for $1

Arcadia Topshop

Sir Philip Green’s high street empire paid just $1 (76p) to buy back his private equity partner’s 25% stake in Topshop and Topman, underlining the challenges facing the billionaire tycoon.

Sky News has learnt that‎ Arcadia Group acquired the stake – which was valued at £500m in 2012 when Sir Philip sold it – from Leonard Green & Partners, a US-based buyout firm, for the sum several weeks ago.

Read the full article on Sky News.