“So will Arcadia’s employees lose their pensions?”, asked the R4 interviewer. “No, no, they’ll get at least 90% of their entitlement paid by the Pension Protection Fund” said the Philip Green apologist (“he just didn’t have the skills to be a retailer”). And how is the PPF funded? Buy a compulsory levy paid by all the other pension schemes not run by Philip Green. So that’s good. He can head back to that yacht in Monaco knowing those pensioners are taken care of. Assuming he ever left it.
“Marks & Spencer profits plunge as clothing sales continue to fall”
So profits are down at M&S. Not really a surprise, I, like many, buy the occasional chicken Kiev but haven’t found anything I’d wear, even in private, for a long time. However, most of us running our own businesses would say, stop moaning, at least you’re making a...