Sir Philip Green is reportedly attempting to raise more than £300m before a Christmas deadline to repay a loan secured against Topshop’s Oxford Street store.
Arcadia Group is in talks with specialist lenders, including American private equity firm Apollo, about refinancing a £310m mortgage due for repayment next month, according to The Sunday Times.
The loan was provided in 2014 by a syndicate of banks led by RBS, and had been due to expire last June. However, the newspaper said it was extended as part of the CVA process, which Arcadia used to close stores and cut rents as part of a restructuring.
The property at 214 Oxford Street, which includes Nike Town, is thought to be worth around £400m.
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