Arcadia owner Christina Green brings forward pension fund payment

Christina Green, the ultimate owner of the Arcadia fashion group that has collapsed into administration, said on Wednesday she was bringing forward payments she committed to make to the retailer's pension fund. "Lady Green is going to bring this payment forward to be paid in the next 7/10 days to complete the 100 million pound commitment of payment." Arcadia went into administration on Monday, putting 13,000 jobs at risk.

Christina Green, the ultimate owner of the Arcadia fashion group that has collapsed into administration, said on Wednesday she was bringing forward payments she committed to make to the retailer's pension fund. Last year Monaco-based Green committed to paying 100 million pounds ($133 million) into Arcadia's pension scheme in three instalments as part of a restructuring plan for the group that was agreed by creditors.

In a statement she said two instalments of 25 million pounds have already been paid and the third and final instalment of 50 million pounds was not due to be paid until September 2021. "Lady Green is going to bring this payment forward to be paid in the next 7/10 days to complete the 100 million pound commitment of payment."

Arcadia went into administration on Monday, putting 13,000 jobs at risk. Analysts estimate a pension fund deficit of 350 million pounds. ($1 = 0.7506 pounds)

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