US private equity firm Leonard Green & Partners closed a deal to buy 25% of Topshop for £350m in December 2012, with a view to helping the chain expand into the US.
Six years on, the Los Angeles buyout firm seems to be stuck in a nightmare.
Topshop’s financial performance has deteriorated badly as millennials have defected to online brands such as Asos and Boohoo — and Green finds himself branded the British answer to the disgraced Hollywood producer Harvey Weinstein.
