Mazars has been appointed to liquidate the remains of Philip Green’s Arcadia group.
While administrators have already recovered £250m from the collapsed retailer, Mazars is hoping to find at least a further £30m, most of which will go to HM Revenue & Customs.
According to the most recent administrator’s report, some proceeds from the sale of two freehold shops and rebates on business rate payments are still to come through.
The long leasehold interest on the 137,000 sq ft Oxford Street property, which housed the flagship Topshop store, is also still being marketed for sale or rent. Prior to the coronavirus pandemic, it was thought to be worth over £400m, but has a £300m loan secured against it.
Unsecured creditors with claims of almost £1.8bn will get around 10p in the pound.
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