Green offers £185m in assets for Arcadia pension black hole

Philip Green

Sir Philip Green has offered £185m in additional funds primarily made up of property assets to reduce Arcadia’s pension deficit in a bid to win approval for its CVA.

In the proposed plan unveiled last week 23 stores are set to shutter - putting 520 jobs at risk - including its flagship Miss Selfridge store on Oxford Street.

It has since emerged another 25 Evans and Miss Selfridge stores will close under separate insolvency agreements.

The funds will be made up of property assets and includes security over the flagship Oxford Street store.

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