Sir Philip Green has agreed to pump an additional £25m into Arcadia Group’s pension fund, in a deal with regulators that could pave the way for a rescue restructure of his fashion retail empire.
Arcadia Group has handed security over additional property assets to the fund in response to a demand from the Pensions Regulator that the former billionaire inject another £50m to fill the group’s pension black hole. The pledge comes on top of a promise by the Green family and Arcadia, which owns Topshop, Topman, Dorothy Perkins, Wallis, Burton, Miss Selfridge and Evans, to put £360m into the pension over three years.
