High-street entrepreneur Philip Green has paid back the £808 million he borrowed two years ago to buy retail group Arcadia.

The payback will allow Green, who bought Arcadia for £850m, to take millions of pounds worth of dividends from the group - which includes chain stores such as Dorothy Perkins, Topshop and Burton - to strengthen his market position.

Green, who made several unsuccessful takeover bids for high-street giant Marks & Spencer earlier this year, last week pocketed a £40 million dividend from his Bhs retail group.