Philip Green's Arcadia turnaround plan could trigger heavy job losses

Tycoon is considering using a company voluntary arrangement to rescue groupSir Philip Green is working on a plan to turn around his ailing Arcadia high street empire, which could trigger heavy job losses and nationwide store closures.The embattled billionaire is the latest high street business owner to explore a company voluntary arrangement (CVA), a form of insolvency used to jettison unwanted stores and seek reduced rents. Related: For the sake of his business, Philip Green should take a back