Arcadia, which includes Topshop, Topman, Burton and Dorothy Perkins, is expected to collapse into administration this week, possibly today.
The biggest high street casualty since the start of the coronavirus pandemic would put 15,000 jobs at risk.
Pressure is mounting on Sir Philip to cough up to ensure the 10,000 members of Arcadia’s pension fund are not left out of pocket.
The scheme would be eligible for the Pension Protection Fund if the company goes bust.
However, members risk the value of their retirement pots being cut by up a quarter.
This story is from the November 30, 2020 edition of Daily Mirror.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 30, 2020 edition of Daily Mirror.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
NORSE OF THE YEAR SHOW
A fjord fiesta is on the cards as Odegaard does the great title showdown... and Burnley star Berge
BEN HURT
Chilwell back from England duty with new injury & Poch admits: I'm surprised he started both games
BEE PREPARED
United know they face a tough return to Brentford where they were famously outrun and outfought
FARKE: FOXES STILL IN THE LEED
Boss Daniel insists Leicester are favourites for title glory
YUMMY MOMI TAMES TIGERS
Aussie star Paul finally comes good for the Rhinos
175 pints? That's a LOT of armfuls
Blood donor hits massive target but is not done yet
I'm still angry about the death of our daughter..I've never found peace
Barlow lays bare anguish over loss of stillborn baby in 2012
PUTIN'S PUPPETS
British mercenaries fighting in Ukraine lauded by Kremlin propaganda machine
MAN, 19, HELD AFTER TRAIN STAB HORROR
Masked suspect filmed knifing passenger
ARREST AFTER DEATH OF GOGGLEBOX STAR
Man in 40s faces manslaughter quiz