Not appropriate for UK govt to demand Green plug Arcadia pension hole -minister
- Country:
- United Kingdom
A junior British business minister said it was not appropriate for the UK government to comment on "individual cases" when asked to call for Philip Green to plug a hole in the pension scheme of his collapsed Arcadia fashion group.
"It wouldn't be appropriate at this stage for ministers to comment on individual cases which are a matter for the regulator," Paul Scully, minister for small business, consumers and labour markets told parliament.
Arcadia, owned by Green, entered administration on Monday, threatening 13,000 jobs. Analysts estimate a pension fund deficit of 350 million pounds ($466 million) ($1 = 0.7505 pounds)
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