Arcadia owner pledges to bring forward £50m pension fund payment
Written by Rother Radio News on 02/12/2020
Arcadia owner Lady Christina Green is to bring forward a £50m payment into the collapsed retailer’s pension fund.
A statement on behalf of Sir Philip Green’s wife – who is the registered owner of the company – said the payment in the next seven to ten days would complete a commitment made last year to pay £100m into the scheme.
Lady Green has already made two contributions of £25m each and the final sum had not been due until September 2021.
The payments were pledged last year as part of a rescue deal for the Topshop-to-Burton retail group which was signed off by stakeholders including the Pensions Regulator.
© Sky News 2020