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Philip Green says the Arcadia pension offer is good: Financial Times Bloomberg
Philip Green said the 100 million pounds ($ 126 million) that he had promised to inject into the pension fund of Arcadia Group Ltd. as part of a restructuring plan constitute the "best result," reported the Financial Times, citing an interview with the fashion mogul. Arcadia's creditors are expected to decide Wednesday whether or not to accept a restructuring that would close about 20 stores, cut rents by nearly 200 stores and cut contributions to the UK distribution group pension plan. The UK pension regulator wants Green to pay £ 50m more to the Arcadia pension fund, Sky reported.
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