Labour MP Frank Field has claimed that Arcadia’s Sir Philip Green could still be stripped of his knighthood, saying his £363m settlement with the Pensions Regulator was “inadequate.”
A year on from the collapse of BHS, Field said Green had not done enough to keep his title and faced further questions from MPs, The Guardian reported.
Field, who chairs the work and pensions committee, said: “When parliament comes back from the election we need to pursue the charge sheet from the Pensions Regulator against him and what the Pensions Regulator got in return.
“Once we have done that, we will realise how inadequate his settlement was. He has not done enough to hold on to his knighthood.”
In February Green agreed to pay £363m to settle the BHS pension scheme, saying the move was a “significantly better” outcome than if the scheme entered the Pension Protection Fund.