MP Urges Pensions Regulator To Act On Arcadia Deficit

Law360, London (June 10, 2019, 2:08 PM BST) -- The head of a parliamentary committee has urged Britain’s pensions watchdog to explain how it will ensure that Arcadia Group, the holding company of Philip Green's fashion chain, will cut its pension scheme deficit of more than £500 million ($634 million).

Frank Field, chairman of the Work and Pensions Committee, said on Friday that he has asked The Pensions Regulator to answer eight questions about the struggling retail group’s proposed plan to inject cash into its safety net for workers at some of Britain's best-known clothing brands, including Miss Selfridge and Topshop.

Embattled billionaire Green secured backing from the regulator for a company...

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