June 7, 2019 / 11:50 AM / 3 months ago

UK lawmakers raise concerns over Arcadia pension funding

LONDON, June 7 (Reuters) - The head of a British lawmakers’ committee has written to the country’s pensions regulator raising concerns over the funding of the pension deficit of Philip Green’s Arcadia fashion group.

Arcadia is fighting for its survival and on Wednesday a key meeting of creditors held to vote on Green’s plan to restructure the group was adjourned until June 12.

On Friday the British parliament’s Work and Pensions Committee said its chair Frank Field had written to The Pensions Regulator (TPR) with detailed questions about the section of Green’s Company Voluntary Arrangement (CVA) plans that cover funding Arcadia’s pension deficit. (Reporting by James Davey, editing by David Milliken)

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