Email appears to contradict Topshop owner’s statement that retail empire is not up for sale
Sir Philip Green asked HSBC to help him find a buyer for his sprawling retail empire, according to a leaked email that casts doubt on the tycoon’s vehement denial of reports he was plotting a sale.
The billionaire, whose Arcadia Group includes fashion outlets Topshop and Miss Selfridge, discussed plans to sell his retail brands over dinner with two bankers from HSBC in February 2016, the email shows.
A deficit occurs when a salary-related pension scheme doesn't have enough assets to pay for all its future possible liabilities - ie, payouts to workers when they retire.
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