The Arcadia retail group at the heart of billionaire Sir Philip Green's fortune has accepted U. K. 'government support' to pay its entire shop staff during the coronavirus pandemic
fortune has accepted U.K. “government support” to pay its entire shop staff during the coronavirus pandemic.
In a statement from the group’s CEO, Ian Grabiner, Arcadia confirmed that all 14,000 store employees have been “furloughed” as part of the government’s job retention scheme, which covers 80% of an employee’s wage, capped at a maximum of $3,100 a month at no risk or expense to the employer. Online operations will keep going and head office staff will continue until April 5, 2020, according to the statement. Grabiner has said he will receive no salary or benefits until further notice, adding, “We look forward to opening our store doors again as soon as it is safe to do so and welcoming back our colleagues and customers.”
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