Sir Philip Green receives setback as he seeks Arcadia rescue deal

Sir Philip Green has received a setback in the battle to save Arcadia, the business that controls a host of famous high street names, from Topshop to Dorothy Perkins. Landlords have refused to back a rescue deal that would have seen a cut in rents and the closure of some stores.

Sir Philip hoped they would all agree to the plan today. But instead he’s had to adjourn the meeting until next Wednesday.