Tina Green has been handed £50m by administrators from the remains of her husband’s Arcadia empire.
Lady Green was a secured creditor of the fashion group after providing its Daventry warehouse with an interest-free loan in 2019 during its first restructuring.
The funds were given to the Green family’s Aldsworth Equity – their investment vehicle, located in the British Virgin Islands, which is controlled by Lady Green – after the sale of the warehouse.
When Arcadia went into administration last year, the warehouse was sold for £83m to Prologis and is now being leased by fast-fashion rival Boohoo.
Meanwhile, unsecured creditors of the fallen fashion empire are owed a total of £1.8bn, but are expected to get back only 10p in the pound.
When Arcadia collapsed, it owed £44.2m to HMRC, £163m to suppliers, £36.5m to landlords and £5.6m to gift card holders.
Its key assets Topshop, Topman and Miss Selfridge were sold to Asos; and Burton, Wallis and Dorothy Perkins to Boohoo earlier this year for a total of £355m.
Administrators are now trying to release the amount owed to unsecured creditors from a 53% stake in the Fashion Retail Academy building in London.
Arcadia also accrued £745,000 from the sale of fixtures and fittings from its head office in central London.
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