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Arcadia Group Demands Bigger Discounts from Suppliers

It looks like fashion retail behemoth Arcadia Group, owner of the Topshop and Topman chains, wants to make up for falling pre-tax profits—which dropped by five million pounds, or about $7.75 million in the year ended August 30—and its director’s recent 38 percent pay rise by imposing strict payment terms on its suppliers.

The British holding company, controlled by billionaire tycoon Sir Philip Green, wrote to suppliers this week to say it plans to slash what it’s willing to pay for orders that manufacturers have already agreed to fulfill.

Read more at Sourcing Journal.