Toys R Us battles to win support of pensions body over restructuring

Retailer in last-ditch talks before creditors’ meeting to prevent going into administration with loss of 3,200 jobs

Toys R Us has proposed a compromise deal on funding its pension as it tries to win the support of the Pension Protection Fund (PPF) for a restructure that could stave off administration and the loss of 3,200 jobs.

The ailing retailer is in last-ditch talks with the industry-funded pensions lifeboat, which has said it will not vote in support of an insolvency plan at a creditors’ meeting on Thursday morning without more cash for the Toys R Us pension scheme.

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Source: theguardian
Toys R Us battles to win support of pensions body over restructuring