Toys R Us scheme to face PPF as company goes insolvent

The news today means the toys giants' defined benefit (DB) pension scheme with an estimated £38m deficit will likely fall into the lifeboat fund. In late December last year, the PPF reached a settlement with Toys R Us in a move that paved the way for an agreement to be reached on the firm's Company Voluntary Arrangement (CVA), which allows companies to restructure their finances, and without it Toys R Us would have gone bust earlier. As part of the CVA deal, the company agreed to pay £9.8m into the pension plan - composed of £3.8m in 2018, with a further £6m promised over 2019 and 202...