Billionaire Philip Green, chairman of Topshop parent company Arcadia Group, faces new offense charges, this time in Arizona for allegedly misappropriating and making nasty comments to a Pilates instructor, who called him “the British Harvey Weinstein,” Bloomberg reports.
Last year five former employees accused the retail mogul of sexual harassment and abuse. He has denied their claims.
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The 64-year-old has a bad business reputation after soled British Home Stores (BHS), for only $1.50 (1 GBP) in 2015. In April 2016 BHS declared bankruptcy, fired many of its 11, 000 employees and placed the pension fund of more than 20,000 people in jeopardy.
In the 15 years before the sale of BHS, Green padded his fortune by more than $800 million and left its pension fund almost $700 million in the red.
This has led to an inquiry by England’s Parliament and calls for Green’s head.
The Daily Beast titled Sir Philip Green, Britain’s Most Hated Billionaire,” and Vanity Fair asked, “how Sir Philip Green made an outrageous fortune and outraged an entire nation.”
The new allegation comes at a time Green put effort to save his empire from insolvency. In June laid off some 1,000 workers and closing 50 stores out of its 566 stores, including all 11 American Topshop locations. He also injected about $500 million into Arcadia company directly, mostly to shore up its ailing pension fund.
Meanwhile, top model Kate Moss, who designed 14 lines of clothing for the store, and Beyoncé, who partnered with Topshop to sell an activewear line 3 years ago, have ended their business relationships with Green.
Two other women the chairwoman of the holding company that owns Arcadia and Topshop fashion director Maddy Evans and Karren Brady left the company.
According to Bloomberg, some analysts say Green may have no choice but to sell or break up his company, as it struggles to keep pace with online retailers and direct competitors like Primark and Boohoo.
