Chair writes to Sir Philip Green on reported sale of Arcadia
19 February 2018
The Work and Pensions Committee Chair Rt Hon Frank Field has today written to Sir Philip Green over reports that he plans to sell some or all of the Arcadia group, currently carrying around a £1bn pension deficit at buyout value.
- Letter-from-the-Chair-to-Philip-Green-regarding-Arcadia-pension-schemes-19-February-2018.pdf
- Defined benefit pension schemes
- Work and Pensions Committee
The Chair asks if he will he seek clearance from The Pensions Regulator (TPR) for any deal, and will also be writing to TPR directly.
In its December 2016 report on pensions regulation, which followed its previous inquiry into BHS, the Committee called for TPR to have mandatory clearance of major corporate transactions that might have a detrimental impact on the position of a company's pension scheme.
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