Retail Week has learned that trade creditors have swung near-unanimously behind Arcadia’s CVA plan, which will allow the Topshop-to-Dorothy Perkins conglomerate to slash costs and launch a turnaround programme as it battles for breath in a hard-fought fashion retail environment.

The CVA is a humbling moment for tycoon Green, who once dominated the apparel landscape but has had to take emergency measures as shoppers deserted his brands and he became mired in personal controversy.