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Phillip Green


ri Alban

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What's the deal with this guy? That's another 13000 jobs close to being lost through his arcadia business. And with the other fiasco at BHS, does this guy need the Jail. 

A right smug fecker anaw when I seen him at WM being questioned about BHS. 

 

 

 

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Tennant's  6's

Absolutely brutal, even worse af this time of yr. 

Covid & all the ensuing restrictions etc have devastated the economy, its gonna be a tough few yrs ahead for most folk. 

 

Although the stock market is doing well apparently,  so its alright for some..

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Buy a business.

Take out a massive loan against the future earnings of the business.

Trouser the loan yourself as a 'dividend'.

When times are hard the business is saddled with a massive loan it struggles to service.

Business goes bust.

 

Have I missed anything? Isn't this the business model that he follows?

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13 minutes ago, skinnybob72 said:

Buy a business.

Take out a massive loan against the future earnings of the business.

Trouser the loan yourself as a 'dividend'.

When times are hard the business is saddled with a massive loan it struggles to service.

Business goes bust.

 

Have I missed anything? Isn't this the business model that he follows?

 

Just a couple of things I'd add to the charge sheet.

 

By saddling the company with a massive debt to service, he reduces the corporation tax bill to zero.

 

His wife owns the business- and would you believe it- she's a tax exile in Monaco, so the billions they take out in dividends aren't subject to pesky British taxes.

 

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Governor Tarkin
2 minutes ago, fancy a brew said:

 

Just a couple of things I'd add to the charge sheet.

 

By saddling the company with a massive debt to service, he reduces the corporation tax bill to zero.

 

His wife owns the business- and would you believe it- she's a tax exile in Monaco, so the billions they take out in dividends aren't subject to pesky British taxes.

 

 

He really is a horrible ****.

 

2 hours ago, A Boy Named Crow said:

Not dead then?

 

Unfortunately.

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6 hours ago, Tennant's 6's said:

Absolutely brutal, even worse af this time of yr. 

Covid & all the ensuing restrictions etc have devastated the economy, its gonna be a tough few yrs ahead for most folk. 

 

Although the stock market is doing well apparently,  so its alright for some..

 

The Arcadia group have been in trouble for a good number of years, long before Covid or even Brexit, they had a CVA last year and in fact it's a surprise that they've lasted this long tbh, as they have been in terminal decline for around about the last 10 years or so.

 

As others have said Green takes vast amounts of money out of the business and doesn't put any investment in, he's been doing it for years, he's an odious little worm, a real nasty piece of work allegedly, but what he does is perfectly legal.

 

I'd jail the little prick just for being Phillip Green, but unfortunately it usually needs some law to have been broken, and folks like him rarely ever make that mistake, still we can live in hope, I suppose.

 

Stock Market, if you have a pension private or through your work, then you want the stock market doing well, as that's where most of your pension money will be invested in.

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The Real Maroonblood
4 hours ago, Spellczech said:

He took billions out of both BHS and Arcadia as dividends in his wife's name. He is truly one horrible person. 

Rewarded with a knighthood. 

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8 hours ago, fancy a brew said:

 

Just a couple of things I'd add to the charge sheet.

 

By saddling the company with a massive debt to service, he reduces the corporation tax bill to zero.

 

His wife owns the business- and would you believe it- she's a tax exile in Monaco, so the billions they take out in dividends aren't subject to pesky British taxes.

 

There's always been some  seriously bad moral loopholes like these in UK Tax Law and Company Law.    Governments seem to drag their heels about closing them, even when scandals like BHS happen.    I seem to recall the Maxwell empire got away with financial  scams and corporate bullying back in the 80s.        Quite outrageous that bully-boys like Green can "win" when their businesses (and employees) lose.

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jack D and coke

Didn’t he pay his wife about a billion pounds one year? 
An utter shit ***** of a man. Knighted too? Sums this country up tbh. 

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18 hours ago, ri Alban said:

What's the deal with this guy? That's another 13000 jobs close to being lost through his arcadia business. And with the other fiasco at BHS, does this guy need the Jail. 

A right smug fecker anaw when I seen him at WM being questioned about BHS. 

 

 

 

He’s absolute scum 

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1 hour ago, Tazio said:

So did Robert Maxwell, and I’m sure there are lot of people hoping for the same result. 

I was being sarcastic, Taz.

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1 minute ago, Tazio said:

I know, and my answer was in reference to the demise of Robert Maxwell falling off his yacht. 

I wasn’t sure.  👍

 

This obnoxious character berths his yacht in our town every July and August, he gets much criticism and, shall I say, hatred (?) from the locals.

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Dagger Is Back

Absolute vermin of the highest order. The fat turd sadly doesn't have to worry about paying the bills etc as he's hoovered up the cash as others have said. Hopefully he has a couple of G&Ts too many and finds his way to the bottom of the Med. Sums up everything that is wrong in todays world. It's  the only justice that he's ever likely to face

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An absolutely festering, rancid pail of diarrhoea with morals lower than whaleshit. Should have been stripped of his knighthood long ago. Should never have got it in the 1st place.

I wouldn't piss on him if I saw him on fire.

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9 hours ago, SwindonJambo said:

An absolutely festering, rancid pail of diarrhoea with morals lower than whaleshit. Should have been stripped of his knighthood long ago. Should never have got it in the 1st place.

I wouldn't piss on him if I saw him on fire.

I thought he was getting the knighthood taken off him after the BHS saga. I take it they never?

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2 minutes ago, Ron Burgundy said:

I thought he was getting the knighthood taken off him after the BHS saga. I take it they never?

Nope. He kept it. Too many friends in high places I imagine. 

 

 

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rudiatemyhamster

The whole honours system is a load of codswallop.  Honours for greed, honours for celebrity, honours for being the flunkies of the powerful, honour for chums and many a token honour.   There are a smattering of deserved honours but more often than not it’s not.

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Weakened Offender
23 hours ago, Morgan said:

I wasn’t sure.  👍

 

This obnoxious character berths his yacht in our town every July and August, he gets much criticism and, shall I say, hatred (?) from the locals.

 

I don't suppose you know someone who could drill a hole in it? 

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2 hours ago, Zico said:

You don’t often find JKB unanimous on much but I think everyone can agree that Green is a horrible, greedy, asset-stripping *****. 

That sums him up perfectly.  

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25 minutes ago, Weakened Offender said:

 

I don't suppose you know someone who could drill a hole in it? 

I do actually.

 

He’s a slimy wee bloke from Corsica who is good at that sort of stuff.

 

 

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Weakened Offender
3 minutes ago, Morgan said:

I do actually.

 

He’s a slimy wee bloke from Corsica who is good at that sort of stuff.

 

 

 

Get on the case. 👍

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15 minutes ago, Weakened Offender said:

 

Get on the case. 👍

Just done so.  👍

 

Slimy bloke has it in hand.

 

 

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Pretty sure the dividend payout is still the largest payment in UK financial history.....sure it was £1.2bn he paid his good lady.

Then they done a TV part where they were on the boat swanning off somewhere to buy furniture for the new Monaco gaff after that

 

Does seem to be his business model

 

Arcadia are one of our customers so we will lose some business, and I feel for the good people we have worked with over the years at Arcadia....cant see them surviving unfortunately

 

 

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Governor Tarkin
12 hours ago, Morgan said:

Just done so.  👍

 

Slimy bloke has it in hand.

 

 

 

No probs. But I'm not from Corsica.

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Sawdust Caesar

Even the Daily Mail are having a go at him, love this comment "The sight of a portly Green on deck, with a tanned bare chest looking for all the world like a bronzed rotisserie chicken, is a familiar one."

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On 28/11/2020 at 12:32, Vlad Magic said:

Guys a crook.

 

A clever, well liked in certain circles type crook but a crook all the same.

 

 

Aye there's absolutely no way he's a tory!

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Not Fat Phillip Green related, but Debenhams is also going bust.

13,000 lost jobs at Arcadia (unless Fat Mike Ashley buys it all).

Another 12,000 lost jobs at Debenhams.

 

Merry bloody christmas.

Edited by Cade
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Will find out this week about Caffe Nero's CVA proposal to pay reduced rent arrears to clear their debts. If the landlords accept, it means they can continue trading and paying rent. Not sure what happens if it's rejected, maybe the shops close, the company goes under and the landlords only have a claim in the insolvency....

 

I feel it's a bit shady for the landlords to have to accept a reduced amount to clear the debt but it's not like there's other companies going to be lining up to rent the properties once Nero have gone. Gerry Ford, the owner, rejected a takeover bid yesterday - to be fair, the guys making the offer to buy the business done zero due diligence, so seem like a bunch of chancers.

 

Hopefully the CVA is approved, or it's likely a redundancy payment for my wife and 5,000 other Nero Baristas this Christmas. 

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14 minutes ago, 3fingersreid said:

Dress it up how the authorities want but to most sensible people it’s theft 😡

 

All perfectly legal.

He got a knighthood out of doing that to other businesses for a couple of decades.

Politics of envy etc etc.

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41 minutes ago, Cade said:

All perfectly legal.

He got a knighthood out of doing that to other businesses for a couple of decades.

Politics of envy etc etc.

Legal yes

Morally corrupt

 

envy ????

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3 hours ago, Cade said:

Not Fat Phillip Green related, but Debenhams is also going bust.

13,000 lost jobs at Arcadia (unless Fat Mike Ashley buys it all).

Another 12,000 lost jobs at Debenhams.

 

Merry bloody christmas.

 

Debenhams were in trouble last year also, so adding Covid was always going to hurt.

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18 minutes ago, frankblack said:

 

Debenhams were in trouble last year also, so adding Covid was always going to hurt.

 

Been in trouble for many years, in 2003 they were bought over by a private equity company, borrowed lots of money and were put on long lease high rent contracts, meaning that since then most of their profits were swallowed up by interest/rent payments.

 

They were in administration in 2019 & again in 2020 and were in talks with JD Sports who were interested in buying them.

What's pushed them over the edge was the collapse of the Arcadia group as Debenhams made about 20% of their income from the Arcadia concessions in Debenhams stores, the loss of this income source forced JD Sports to withdraw from rescue talks this morning.

 

Therefore Philip Green/Arcadia have quite a lot to do with the demise of Debenhams, because the collapse of the Arcadia group scuppered any chance of a rescue deal for Debenhams from JD Sports.

 

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