Retailer set for €690m pay day

BILLIONAIRE retailer Philip Green was yesterday in line for a bumper £460 million (€690 million) pay day after clearing his borrowings on fashion empire Arcadia.

The entrepreneur and his family have a 92% stake in the Top Shop to Burtons group, leaving them in line for the lion’s share of a £500 million dividend to be awarded to shareholders.

It came as the group posted what analysts described as “stunning” results, with annual operating profits rising by 30% to £296.3m.