McDermott Comment | Sir Philip Green’s Retail Empire Collapsed Under the Weight of Debts Totaling £750m, New Filings Reveal

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Aymen Mahmoud, partner at law firm McDermott Will & Emery, said:

“The pandemic has further impacted an already-troubled retail sector as online alternatives have provided increased competition. As a result, we can probably expect to see a consolidation across some retail businesses, potentially combining with businesses that already have a strong online presence. As retail operators do what they can to survive for as long as possible, what will be left to repay creditors will invariably be reduced.”