Ministers 'ready' to deal with job losses connected to Sir Philip Green's retail empire

Topshop tycoon Sir Philip Green's retail empire is threatened with collapse. Picture: PA
Topshop tycoon Sir Philip Green's retail empire is threatened with collapse. Picture: PA
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Ministers "stand ready to do what we can" to deal with any potential job losses connected to Sir Philip Green's retail empire.

Business Minister Kelly Tolhurst sought to reassure MPs as they await news of the Topshop tycoon's restructuring plans.

The business employs 18,000 people, all of whom could face redundancy if it collapses.

READ MORE: Topman, Burton and Dorothy Perkins to close Scottish stores
Arcadia has been locked in negotiations with landlords as it seeks agreement on company voluntary arrangements (CVAs).

Speaking in the Commons, Labour's Jenny Chapman (Darlington) said: "Yesterday I spoke to the chief executive of Arcadia group about the Topshop, Topman and Dorothy Perkins stores in Darlington.

READ MORE: ‘Creepy’ Green charged with four cases of assault
"Tomorrow there is a CVA meeting where we could be seeing the loss of 18,000 jobs nationwide.

"What is the Government going to do - I know they can't intervene in the process - to protect communities and individuals who could be affected by this decision?"

Ms Tolhurst replied: "(Ms Chapman) raises an important point about the viability of some of the retail outlets operating on our high street and she is absolutely quite right that it is concerning when we're looking at any kind of closures of our retail names on our high street.

"This is something we stand ready to do what we can along with my colleagues in MHCLG (Ministry of Housing, Communities and Local Government) if closures occur.

"We are working with the Retail Sector Council and we're committed to making sure we are working with the retail sector and high streets to make sure we can really truly grow our high streets and protect retail for the future."