Philip Green fashion empire hit by 16% fall in profits

Sales were also down at the Topshop, Burton and Miss Selfridge group, with pension scheme deficit nearing £1bn

Sir Philip Green’s fashion empire suffered a 16% fall in profits last year as the billionaire’s Topshop-to-Miss Selfridge group struggled with difficult trading on the high street.

The drop in profits caps a torrid 12 months for the Monaco-based businessman, who was hauled before MPs following the collapse of BHS, which he sold to a group led by a former bankrupt for £1.

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