×
456
Fashion Jobs
MAJE
Supervisor - Selfridges, London
Permanent · LONDON
HARRODS
Technogym -Wellness Consultant
Permanent · LONDON
JOSEPH LTD
Full Time Menswear Supervisor (Mayfair)
Permanent · LONDON
MICHAEL KORS
Account Executive
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Flagship General Manager – Luxury Fashion – Regent st – £80k-£90k + Bonus
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Online Customer Service Manager
Permanent · HUNGERFORD
FOUR SEASONS RECRUITMENT
Merchandising Manager
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Kings Road
Permanent · LONDON
BIMBA Y LOLA
Sales Assistant Richmond
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Notting Hill
Permanent · LONDON
FOUR SEASONS RECRUITMENT
Showroom Sales Representative
Permanent · LONDON
TOO FACED
Business Manager - John Lewis Brent Cross
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Ltrtw & Mtm Client Service Manager – Luxury Ladieswear – Knightsbridge – £30k-£40k + Comm
Permanent · LONDON
OUTSIDE THE BOX RECRUITMENT
Haute Couture Client Service Manager – Luxury Ladieswear – Mayfair– £40k-£60k + Comm
Permanent · LONDON
MAJE
Sales Supervisor, Full-Time - Harrods, London
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant Canary Wharf
Permanent · LONDON
HEAD OFFICE
Brand Manager
Permanent · LONDON
BETTY BARCLAY GROUP GMBH & CO KG
Retail Operations Manager
Permanent · LONDON
RETAIL PERM
Beauty Salon Manager
Permanent · LONDON
TOO FACED
Business Manager - Liverpool - New Mersey Retail pk (Speke), UK
Permanent ·
TOO FACED
Business Manager - Lisburn Sprucefield sc, UK
Permanent ·
TOO FACED
Business Manager - Stockton on Tees Teeside, UK
Permanent ·
Advertisements

Arcadia CVA plan under fire before it's officially launched

Published
today May 23, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

A proposal to close 23 Arcadia stores and negotiate rent bills for a further 194 shops has been criticised by the Pensions Regulator.



The retail group behind Topshop, Dorothy Perkins and Burton revealed on Wednesday details of a company voluntary agreement (CVA) plan that could put 520 jobs at risk in the UK and Ireland.

In addition to store closures and rent renegotiations, the fashion empire proposes a £50 million injection from majority owner Philip Green, and has promised landlords a 20% share of the equity value of the business in the case of a sale.

But as part of the wider cost-cutting drive, the company wants to halve the £50 million annual payments to its pension scheme. And even though Green said he is prepared to put an additional £100 million into the scheme over the next three years, the Pensions Regulator said it was not enough.

“We do not consider the proposals are sufficient to ensure that members of the scheme are adequately protected,” it stated on Wednesday evening. The financial regulator’s support is key to get a CVA approved.

Arcadia’s pension scheme is running a deficit of £750 million, according to UK newspapers.

The CVA proposal will be voted on by creditors on 5 June, and can only be approved if at least 75% of the company’s creditors vote in favour.

Topman, Evans, Miss Selfridge and Wallis are also part of Arcadia’s fashion empire.

Copyright © 2019 FashionNetwork.com All rights reserved.