Topshop and Topman, once the jewel in the crown of billionaire Sir Philip Green’s retail empire, slumped to a loss of almost half a billion pounds last year as sales collapsed. The fashion retailer, which has been hit hard by the rise of online rivals and multinational chains, posted a loss of £498m for 2018 – compared with £15.6m the year before. Revenues fell 9.3pc to £846m, according to Companies House filings. Last week it emerged that Sir Philip’s stable of brands slumped in the red for the first time in seven years and it admitted it might need a cash injection to turn its fortunes around. Taveta, the parent company, had made a £53m profit in 2017 and last reported a loss in 2011. … To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week Register for free We’re glad you’re enjoying The Telegraph Register or subscribe to continue readingAlready a subscriber? Log in Register Free One free Premium article per week Newsletters and daily briefings Register Subscribe 30 days free, then £2 per week Unlimited access to… Read full this story
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