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Daily Mirror

National

Graham Hiscott

Topshop owner's former staff to receive retirement benefits in full after 2020 collapse

Topshop Arcadia Topman Philip Green Aviva Pensions Regulator PPF

Nearly 9,000 pension scheme members of Sir Philip Green’s collapsed Arcadia high street empire are set to receive their full benefits in retirement, under a deal announced on Friday.

Insurance giant Aviva has agreed to take over two schemes for ex-Arcadia workers and management in a deal worth an initial £850million.

Members faced the risk of a shortfall in retirement after Arcadia, owners of chains such as Topshop and Topman, collapsed into administration in November 2020.

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