Philip Green, chairman of the UK’s Arcadia Group, has received the support of pension regulators for his plan to rescue his beleaguered retailer after agreeing to inject an additional 25 million into the retailer’s pension fund, on top of previous commitments of 360 million.
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BHS was sold to Retail Acquisitions after 15 years under Sir Philip’s Green. risk, a year after Arcadia’s 15-year ownership ended. Questions are now being asked about how its £571m pension deficit.
Retail mogul Sir Philip Green has agreed to pay 363 million to rescue the BHS pension scheme. He said that the amount, which is less than the 571 million deficit the company was left with when.
Theresa May has unveiled a plan to. workers’ pensions from a repeat of the BHS scandal. In what some have dubbed the "Philip Green Charter", the Government is considering a new criminal offence for.
The company which owns Topshop has received backing for a rescue deal (Picture: PA) Sir Philip Green’s Arcadia retail group has narrowly secured backing for plans to close numerous stores in a.
Sir Philip Green has been told to use his own money to fund the pension scheme for his embattled retail empire. MP Frank Field, chair of the Work and Pensions Committee, wrote to Sir Phillip.
Sir Philip Green has pledged another £25m to Arcadia’s pension scheme in an eleventh. as part of a wider plan to cut the company’s cost base. Under Arcadia’s proposals, nearly 50 stores will close.
Arcadia has identified 23 of its 566 UK stores for closure and has requested rent reductions and new lease terms on almost 200 more in a move that puts 520 jobs at risk. tina green, Sir Philip’s.
Sir Philip Green’s Arcadia Group has finally confirmed plans to shut 23 stores in the UK and Ireland as part of a CVA proposal. The move would put 520 jobs at risk while all of the retail group.
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Sir Philip Green has rejected suggestions that his arcadia retail empire came close to collapse before a restructuring plan was clinched. s contributions to its pension fund, alongside a fresh.
If that were to happen, it would imperil Sir Philip’s ability to salvage his retail. pension protection fund supporting the retailer’s restructuring. sir philip Green has agreed to hand another.