LONDON, United Kingdom — Philip Green's Arcadia fashion group has secured the refinancing of a £310 million ($398 million) loan on his flagship Topshop store on London's Oxford Street, it said on Friday.

"The Arcadia Group Ltd is pleased to confirm it has completed the refinancing of its £310 million loan on 214 Oxford Street for four years term with Apollo Management International LLP," it said.

In June, Green's empire staved off a collapse into administration when creditors narrowly approved his restructuring plan.

By James Davey; editor: Sarah Young