The collapse of Sir Philip Green’s empire risks lumbering taxpayers with a £50m bill for redundancy payments, The Sunday Telegraph can reveal.
Statutory notice and redundancy payments owed to almost 13,000 Arcadia Group staff total £47.6m, according to calculations prepared by administrators Deloitte.
With few jobs expected to be saved, staff will have to claim statutory payments of up to £538 for every week’s service from the Government.
No, you don’t get £500 for every week you’ve worked somewhere. You get a week’s pay for every year you’ve worked there is closer…..