Sir Philip Green is preparing for a bruising showdown over the fate of Arcadia’s giant pension schemes as the tycoon attempts to arrest the fortunes of his struggling fashion empire.
The embattled billionaire faces the prospect of having to step up annual payments to the scheme, a move that would place added strain on the retailer’s diminishing profits and accelerate its decline.
Green is considering deploying a company voluntary arrangement (CVA) in a bid to slash rents on hundreds of stores across the UK.
