Pension trustees learn to strut as history repeats for Philip Green
Lessons have been gleaned from BHS limbo amid demise of Arcadia’s retail empire
14 February 2021 • 5:00am
Thousands of Arcadia pensioners received news after Sir Philip Green’s bust retail empire was sold off for parts.
Scheme trustees told them last week that £173m has been secured to help fund their retirements, thanks to a deal agreed in 2019 with the help of the pensions watchdog.
It means hopes are rising that the funding deficit present when Arcadia collapsed will be closed.
More money is expected from the sale of the Topshop and Dorothy Perkins brands to Asos and Boohoo for more than £300m.
The Corinthian House building in Croydon, south of London, England, home to the offices of Complete Coffee Limited. Corinthian House promotional photo.
Vertically integrated Swiss green coffee trading company Sucafina has acquired a majority stake in UK trader Complete Coffee Limited (CCL), furthering its global expansion efforts.
The move, in which CCL’s Breminer family will retain some stake in the Croydon-based company, is expected to expand the trading capacity in the conventional and specialty green coffee as well as soluble (instant) coffee segments in the UK market and beyond.
The exact terms of the deal were not made public, although CCL’s leadership will remain intact, according to an announcement from Sucafina today.