The Co-operative Group should pay for financial advice for bondholders set to be hit by its restructuring plan as soon as possible, says an action group.
The group set up to protect pensioners hit by the Co-op's plan is also pressing for the Treasury Select Committee to investigate the deal, according to the Mail on Sunday. Mark Taber, a professional bond investor who is behind the campaign, said: ‘In announcing the offer, the Co-op said it would look to fund financial advice. It has not been forthcoming. It should be providing advice now.' Pensioners, some of whom rely on Co-op bonds for up to half their income, have been left fearful by Co-operative Bank's plans to restructure its bonds, Taber said. Some were considering selling thei...
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