Stake: Week Arcadia

stake: But by 2017 it had written the value of the investment down to nil, suggesting Arcadia did not have to pay to take the stake back this week, according to The Guardian. Arcadia declined to comment. Leonard Green & Partners bought the stake in Topshop and Topman for a reported 350m in 2012. The deal is expected to clear the way for Arcadia to push ahead with the closure of dozens of stores via a company voluntary arrangement CVA a form of insolvency that has been used by other retailers including New Look, Mothercare and Carpetright to downsize in the past 18 months. Frank Field, chair of parliament's work and pensions select committee, published documents on Wednesday that show Arcadia's pension deficit stood at 727m last year, on the basis that the retail group continued trading. Arcadia is also seeking to halve payments into its pension fund as part of the restructuring plan Green says is needed to save the business from collapse. (news.financializer.com). As reported in the news.