SIR Philip Green is expected to clear a major hurdle in his efforts to rescue his Arcadia retail group today, after agreeing to inject an additional £25 million into its pension fund.
The Topshop tycoon received the backing of regulators after proposing a cash and security package worth £310 million.
The Pensions Regulator had previously told Sir Philip he needed to top up his contribution if it was to support a company voluntary arrangement (CVA) for Arcadia.
The group, which has nearly 10,000 pension scheme members, said a voluntary cash contribution of £100 million had been pledged alongside £210 million in security.
Arcadia said Lady Green, the group's ultimate owner, had signed off the additional cash.
The Pension Protection Fund (PPF) is due to vote on whether to support the scheme on Wednesday.
Arcadia owns Topshop, Topman, Burton, Dorothy Perkins, Miss Selfridge, Wallis and Evans.
If the CVA is approved almost 50 stores will close and rents on nearly 200 shops will be cut.
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