Sir Philip Green's longtime critic Frank Field has called on the retail tycoon to protect his employee pensions with his own money, as retail giant Arcadia prepares to close stores.
In a letter to Sir Philip, the MP has asked for a commitment that the businessman will make a personal payment in the event that a deficit reduction plan proves insufficient.
Mr Field, who is chairman of Parliament's Work and Pensions Committee, said it was "disappointing" to see recent proposals for restructuring at Arcadia - which owns brands including Topshop, Burton and Wallis - include a reduction of contributions to the company's pension deficit.
As part of the plans, Sir Philip and Lady Green will make personal contributions to mitigate the reduction, but the Pensions Regulator has said this is not enough to guarantee protection for members.
READ MORE: Sir Philip Green's retail empire to shut 23 stores, putting 520 jobs at risk
"When a similarly grim situation arose for BHS pension scheme members, you personally provided funding, though not until after the intervention of the Pensions Regulator," Mr Field wrote.
"Might I please ask you to offer a guarantee to Arcadia staff that you would do the same for them should the deficit reduction plan prove insufficient - and this time, without the need for the Regulator of Parliament to step in first?"
Arcadia declined to comment on the letter.
Events organiser and business-to-business publisher Informa said it was on track to meet its full-year targets after "steady" trading over the first four months of the year.
The FTSE 100-listed firm said performance across its largest business, markets, was "strong" as it approached the end of its year-long accelerated integration plan, following the £3.9 billion acquisition of rival UBM last year.
The firm said it was "confident" it would meet its 4.5% revenue growth target despite "ongoing softness" in the Middle East.
Stephen A Carter, group chief executive, said: "Informa has performed well through the first four months of the year, with steady trading across our enlarged portfolio of specialist international brands." Shares were up 2.9% at 79.28p.
Manufacturing and services group Redhall has been suspended from the junior AIM market after failing to secure new funding from creditors.
The firm said short term cash-flows are significantly under pressure and overall trading remains challenging.
It is investigating alternative options for value for shareholders, but the outcome of the process remains uncertain.
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