Philip Green's Arcadia secures £310m flagship store loan

Arcadia Group, the owner of Topshop and Dorothy Perkins, has completed the refinancing of a £310m loan for its flagship store on Oxford Street which houses both Nike and Topshop.

The group said on Friday that it had completed the refinancing for a term of four years with US-private equity firm Apollo Management International.

The Sunday Times reported last month that Arcadia owner Philip Green was racing to raise more than £300m before Christmas in order to repay a loan secured against the flagship store. It said at the time that Arcadia was in talks with Apollo.