TECHNOLOGY

Topshop owner Sir Philip Green's wife spent £ 190,000 on a very rare bottle of red wine.


Topshop owner's wife Sir Philip Green "squirts £ 190,000 for an extremely rare bottle of red wine" as he struggles to save the Arcadia retail empire

  • Tina Green is said to have shot at a bottle of Chateau Lafite Rothschild in 1869
  • The scandalized husband Philip is in crisis in his Arcadia retail empire
  • The company has fought against the rapid growth of online shopping

Topshop owner's wife Sir Philip Green has reportedly spent an estimated £ 190,000 on an extremely rare bottle of red wine.

Tina Green bought the 1869 Chateau Lafite Rothschild bottle at a charity auction amid the ongoing crisis in her husband's retail empire.

She was previously controversial when she received a £ 100m superyacht in 2016 while her husband's former BHS department store collapsed.

Topshop owner Sir Philip Green's wife Tina Green (pictured) has reportedly spent an estimated £ 190,000 on a bottle of Chateau Lafite Rothschild at a charity auction

Sir Philip was accused of leaving the BHS pension fund after selling the chain to former bankrupt Dominic Chappell for £ 1 in 2015. Eventually, he paid £ 363 million to save the fund.

Now his wife has made the extravagant red wine purchase at a charity auction as he struggles to save his Arcadia group, the owner of Topshop and Dorothy Perkins.

The donation came courtesy of Ariane de Rothschild, 53, president of the Edmond de Rothschild Group Executive Committee. The money will go to the cancer charity EORTC, The Evening Standard reported.

Sir Philip Green is in crisis in his retail empire

Sir Philip Green is in crisis in his retail empire

Arcadia was forced to consider a voluntary company agreement (CVA), an agreement used by struggling companies to negotiate rent cuts to save the group.

The company has fought against the rapid growth of online shopping.

67-year-old Sir Philip wants to close around 50 stores and request rent reductions for the others to avoid mass closings and job losses.

In June he is faced with a rent of several million pounds. He pledged £ 50m for the overhaul, but angry landlords asked for more. If he doesn't get a deal, he'll likely start an immediate sales process.

The tycoon is also battling a £ 300m black hole at the Arcadia Group, according to the latest figures.

Retailers are battling a slowdown in the high street, with more than 50,000 shopping jobs lost last year alone when consumers switched to online giants like Amazon instead.

The victims of the break-in included Debenhams and House of Fraser, both of which were saved from administration. Even Stalwarts like John Lewis and Marks & Spencer have made their profits.

Arcadia declined to comment.

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