Billionaire sportswear tycoon Mike Ashley has made an extraordinary £50 million loan offer to rescue Sir Philip Green's TopShop empire from collapse. But in a dramatic intervention yesterday, Sports Direct and House of Fraser owner Mr Ashley offered an 'emergency loan' to tide Arcadia over until Christmas. The £50 million touted by Mr Ashley yesterday is understood to be conditional on Arcadia guaranteeing the money against business assets such as its properties. One said Mr Ashley appeared to be 'playing games' by offering the loan. The Mail on Sunday also understands Mr Ashley has separately expressed an interest in buying the gigantic Trafford Centre shopping mall in Manchester as he seeks to expand his empire.

Source: Daily Mail November 29, 2020 00:47 UTC