Arcadia, Debenhams the first high street dominoes to fall

High street retailer Debenhams became the latest domino to fall following the collapse of Philip Green’s Arcadia Group on Monday, with the pension schemes of both now entering the Pension Protection Fund assessment period.

Debenhams, which has two defined benefit schemes, was left facing liquidation after JD Sports pulled out of talks about a takeover bid on Tuesday, a decision precipitated by Arcadia’s entering administration since the group is a leading concessionaire in Debenhams’ stores, the Financial Times reported.

Article by Benjamin Mercer. Read the full article here.