June 11 (Reuters) - Intu Properties Plc INTUP.L , Philip Green-owned Arcadia's second biggest landlord, is set to oppose the fashion group's latest sweetened rescue plan, Sky News reported on Tuesday.
Arcadia last week offered better terms for landlords in a restructuring plan for the struggling British fashion retailer, seeking the support of creditors to prevent the group from collapsing into administration. News reported https://news.sky.com/story/arcadia-on-brink-as-lakeside-owner-opposes-new-rescue-deal-11739592 that the Lakeside and Trafford Centre shopping centres owner had informed Arcadia that a compromise deal to win over property owners had not persuaded it to support a proposed Company Voluntary Arrangement (CVA).
Arcadia needs creditor approval to avoid going into administration or liquidation, for each of its seven brands - Topshop, Topman, Burton Menswear, Dorothy Perkins, Evans, Miss Selfridge and Wallis.
Intu and Arcadia did not immediately respond to Reuters' request for a comment.