Philip Green’s Arcadia Group is embroiled in a dispute with international law firm Dechert over a lease assignment on three units at the Guildhall Shopping Centre in Stafford
Arcadia Group, along with Arcadia Brands, its property holding company Redcastle Ltd, Top Shop/Top Man Properties and also Evans Retail Properties, filed a claim at London’s High Court against the law firm last July, and proceedings have now been stayed until 5 April.
The retailer is claiming damages “as the court sees fit”, together with costs in respect to an alleged “breach of duty of care and failure to advise”.
It claims that in January 2003, Dechert was instructed to act on the assignment of the leases of three units — two to Top Shop Properties and one to Evans Retail Properties — but alleges that it “failed to protect the interests of the claimant” and “failed to provide sufficient advice”.
Arcadia has more than 2,000 stores in the UK.
Neither party would comment.