After months of speculation, Sir Philip Green's Arcadia Group is thought to be close to announcing a company voluntary arrangement (CVA) that could see it shut a significant number of its 570 stores across the UK. If it does press ahead with a CVA it will be one of the most controversial to date. This is partly because of recent headlines about Green's personal life, but more worryingly for landlords, it is because Arcadia is still profitable, making it another example of a retailer taking advantage of a loophole in the law surrounding CVAs. Property Week looks at what has gone wrong and what the future holds for Arcadia's retail empire.
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