UK. Philip Green wins key vote for rescue plan ahead of meeting
The owner of Topshop has struck a £385m deal to secure its pension schemes, including a £100m contribution from Lady Cristina Green, Sir Philip’s wife and Arcadia’s largest shareholder.
The PPF said it would now “vote in support” of Arcadia’s restructure.
But the plan, which includes closing 50 stores, needs the backing of landlords.
They would have to agree to a rent cut on Arcadia’s stores, which also include Burton, Miss Selfridge, Dorothy Perkins and Wallis.
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