Harry & David Gets Permission to Terminate 2,700 Pensions

Harry & David Holdings Inc., a specialty-food retailer, received bankruptcy court permission to terminate the pensions of more than 2,700 workers, the Pension Benefit Guaranty Corp. said.

PBGC said in a statement today that it had told the court that Harry & David could afford to keep the plan and that the company was terminating it largely to increase investors’ returns, not out of necessity to emerge from bankruptcy.