Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Sir Philip Green accuses MP of turning inquiry into a ‘kangaroo court’

Sir Philip Green has accused work and pensions select committee chair Frank Field of turning the inquiry into the collapse of BHS into a “kangaroo court”.

philip green

In a letter to Field the Arcadia boss said he had tried to stay silent but he was not willing to allow the “abuse” from the MP to go unanswered.

Green said that Field could not point to broken laws as Green had not broken any, and Field’s attempts to lead the public into thinking that the pension deficit could be fixed by Green writing a cheque were “utterly disingenuous”.

The retailer added that he was not liable for the pension debt and Field’s “false narrative” around the Green family puts a solution to the pensions “at risk.”

Green said: “You should be in no doubt, Mr Field, that any solution relies on a voluntary decision on our side to support the BHS pension schemes. There is no legal liability to make any payment to support the schemes.

We are working towards a voluntary solution for the BHS pension schemes because we want to help the BHS pensioners. I will not be bullied by your press campaign and political grandstanding into supporting the BHS pension schemes. The BHS pensioners can only hope that you now reign yourself in.”

Meanwhile the Pensions Regulator has reportedly opened an investigation into Green’s Arcadia Group empire, according to The Sunday Times.

The watchdog, which is already investigating BHS, is allegedly probing the funding of Arcadia’s two retirement schemes. The pensions shortfall at Arcadia widened from £124.6m to £189.6m in its accounts to August last year. Arcadia declined to comment.

In other BHS news Goldman Sachs faces more questions from MPs over its work for Tina Green, according to City AM. 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.