Arcadia assets sale gives hope to thousands of pension savers

Trustees at Sir Philip Green’s collapsed firm realise £173m, stemming from sale of Topshop to Asos

Thousands of workers saving pensions at Sir Philip Green’s Arcadia Group have been offered fresh hope they will recover more from their savings than feared following the sale of property assets at the tycoon’s collapsed company.

Sources said the Arcadia scheme is on course to remain independent of the pensions lifeboat – which protects people with a defined benefit pension when an employer becomes insolvent, but at a reduced level – after trustees said they had realised £173m via the sale of assets since the company failed.

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