Topshop Boss'S Assets Shrank By More Than 1 Billion Pounds.

The latest 2019 "Sunday Times Rich List" confirms the fall of Philip Green, the boss of Philip Green of Arcadia Group Ltd., a British High Street retail group from the perspective of personal wealth.

According to the list, Philip Green and its wife, Tina Green Tina Green, have fallen below 1 billion pounds for the first time since 2002, ranking 156 from 66 in 2018.

Over the past year, two couples living in tax haven Monaco have lost 1 billion 50 million pounds in assets, and their profits dropped to 4 billion 900 million from 2006 in 2007 and 4 billion 900 million in the peak.

What's more, because of the huge deficit of Arcadia Group Ltd. owned by Topshop, Dorothy Perkins and many other brands, there are still a large number of loss stores to prepare for completion. Last year, the group was awarded a valuation of 750 million pounds for the rich list, which is now worthless.

In 2002, after the privatization of Arcadia Group PLC, which was traced back to 1903 through holding company Taveta Investments Ltd., Philip Green was awarded the knighthood title by the then British Prime Minister Tony Blair Blair in 2006, praising its "service to the retail industry".

Four years later, the newly hired David Cameron Cameron also invited Philip Green to assess the British government's spending and procurement activities.

Despite the constant controversy, in 2015, the paction of BHS department store divestiture from Arcadia Group Ltd. with a symbolic 1 pounds was the starting point for the decline of Philip Green.

BHS department store, which has 87 years of history, has more than 170 department stores at that time, and the Dominic Chappell who bought the retailer not only has no retail experience, but also has three bankruptcies between the company and the individual.

13 months later, BHS Department applied for bankruptcy trusteeship, and was closed because of no one's access. The 11 thousand employees lost their livelihood and left a 571 million pension deficit.

Philip Green paid 363 million of it under the pressure of many parties.

At the same time, Arcadia Group Ltd.'s other retail brands are frustrated by industry changes, poor demand in the UK and competition in the same industry. Topshop, the flagship brand, is the first to bear the brunt.

Last year, attempts to suppress racial discrimination and sexual harassment by politicians under the media's password had made Philip Green a street mouse.

Philip Green, who has also settled in Monaco's rich list, told the Sunday times that he often walked alone on the beach. "He can't see it very well," the rich man claimed.

The Philip Green couple have a 100 million yacht "Lionheart" locally.

In 2005, Arcadia Group Ltd. paid 1 billion 200 million pounds to the parent company Taveta Investments Ltd. in the name of the interest on the loan interest, and Tina Green as the Monaco resident was the actual controller of Taveta Investments Ltd., which meant that the couple were maximizing tax avoidance while obtaining the highest bonus in the history of British business.

There were also people familiar with the matter, who said that Philip Green did not set foot in the Arcadia Group Ltd. headquarters in London after the scandal.

During this period, pop star Beyonc e Beyonce bought shares of the joint venture brand Ivy Park, and now found the big backing of Adidas AG (ADSGn.DE) Adidas group. Philip Green also bought 25% stake in the US business of Leonard Green&Partners LP, because the private Holdings Company in Losangeles had written down the value of the investment to zero several years ago, and it is reported that it spent only 1 dollars.

At present, Arcadia Group Ltd. is joining hands with Deloitte DDT to make use of the bankruptcy procedure of "Company Voluntary Agreement (company voluntary agreement)" to close dozens of stores in the UK for its brand, and Philip Green is also emerging for various concessions and pactions to win the support of store owners.

This year's theme of the Sunday times rich list is the era of uncertainty. Britain's richest 1000 individuals or families have a record total of 771 billion 300 million pounds in total assets, 61.4% higher than the 478 billion pounds in 2018, and the number of individuals / families with more than 1 billion pounds increased by 6 to 151.

However, the assets of fashion retailers such as Mike Ashley Mike Ashley, Christina Ong Christina king and Ray Kelvin have declined.

Mike Ashley lost at least 150 million pounds because of the bankruptcy of Debenhams department store in the UK. Many other investment losses have shrunk 461 million of its total assets to 1 billion 980 million pounds.

Christina Ong Christina Wang family holding Mulberry Group PLC (MUL.L) Mai Baorui was involved in Mike Ashley's House of Fraser department store in bankruptcy in 2018 and stock prices plummeted, calling the "Queen of Bond Street" Christina Christina King's body fell 150 million pounds to 1 billion 50 million pounds.

The net assets of Ray Kelvin, founder of Ted Baker PLC (TED.L), who were accused of sexual harassment, plummeted 40% to 309 million pounds.

On the other side, Gucci Kering parent company Kering SA (KER.PA), who moved from London to Paris five years ago, is CEO of Fran ois-Henri Pinault Francois Henry Pino and its wife Salma Hayek owns assets of 6 billion 840 million pounds, up 1 billion 710 million pounds over the same period last year.

Its business includes cheap and fast fashion retailers, Primark and Selfridges department store Weston family wealth of 10 billion 500 million pounds, an increase of 450 million pounds compared to 2018.

Lush Cosmetics founder Mark Constantine and Mo Constantine have benefited from the idea of natural environmental protection. They have accumulated more than 150 million pounds of wealth during the year. The net assets at the end of March were 450 million pounds.

David Beckham, Victoria Beckham Beckham and his wife's joint wealth increased by 15 million to 355 million pounds.

Net-a-Porter founder Natalie Massenet's personal assets also amounted to 150 million pounds, leaving Net-a-Porter, as Farfetch Ltd. (NYSE:FTCH) Co chairman, her stake in the luxury business in September 2018 IPO increased her wealth of 15 million pounds.

Author: Lin Biying