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.
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Sir Philip Green’s Arcadia Group has announced it will close 23 in the UK and Ireland, putting 520 jobs at risk.. for closure as part of a rescue plan. The retail group’s proposals will also.
Philip Green wins key vote for rescue plan ahead of meeting;. the Pension Protection Fund (PPF), had said it would vote for the scheme after Lady Cristina Green, Sir Philip’s wife and Arcadia’s.
Photograph: luke macgregor/bloomberg sir philip green plans to close 23 UK stores with the loss of 520 jobs as part of a financial rescue plan for his retail empire. up payments to the pension fund.
· Sir Philip Green has handed another £25m to Arcadia’s pension scheme in an eleventh-hour deal that improves his chances of averting the collapse into administration of his Top Shop empire.
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.
Sir Philip Green has won the backing of the Pension Protection Fund (PPF) for his plan to rescue Arcadia ahead of a crucial. trustees of Arcadia’s pension schemes will be granted security over.
· Lady Green to the rescue! Sir Philip’s wife ploughs £200m into Arcadia as retail empire AVOIDS administration after rescue deal is backed in knife-edge vote – but 50 stores WILL close
· Sir Philip green sharpens axe, number of over-70s still in work doubles, and more top news. plans to close 23 UK stores as part of a financial rescue plan.
· Sir Philip Green has told Sky News "a win is still a win" after his high street retail empire narrowly averted the prospect of collapse. arcadia group – whose brands include Topshop, Dorothy Perkins and Burton – needed to get 75% support in a series of rescue deal votes among creditors.
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