Sir Philip Green faces a crunch meeting on his family empire’s future tomorrow — but may not turn up.
Asked if he will attend a crucial vote in London, he said yesterday: “I haven’t decided.”
Failure to get backing for an overhaul of Arcadia could lead to the retail business, which employs 18,000 people, collapsing into administration.
The talks will involve creditors, including The Pensions Regulator, being asked to back a shake-up of Arcadia, which owns Topshop, Topman, Burton, Wallis, Miss Selfridge and Dorothy Perkins.
The Company Voluntary Arrangement would allow the firm to close at least 23 of its 566 stores, with a potential 520 job losses.
It also wants to cut rents on nearly 200 stores.
One obstacle could be the £750million hole in the pension schemes.
Sir Philip’s wife Tina, who is the main shareholder, has offered to pump in an extra £100million into the schemes over three years.
Reports say the regulator wants £50million more.
Arcadia said Sir Philip had not been near its London HQ “for nearly a year”.
He has also been charged in the US with assault following allegations he groped a pilates teacher , which he denies.
