Arcadia to double pensions payments as Sir Philip Green charts comeback
Sir Philip Green’s Arcadia Group is to double its top-up payments to its pension scheme, in another step in the billionaire businessman’s bid to regain credibility.
Arcadia, the parent company of high street brands such as Topshop and Dorothy Perkins, plans to increase its annual payments into the scheme from £25m to £50m in order to tackle the fund’s deficit.
The latest figures showed Arcadia’s deficit was around £190m, but a revaluation process which happens every three years and is currently underway could push it up to £500m.
Full Content: Telegraph
