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Sir Philip Green could keep knighthood for 'years'

Arcadia boss Sir Philip Green could keep his knighthood for “years”, despite MPs voting to strip him of the honour following the BHS scandal.

The Honours Forfeiture Committee has said it will not make a decision until all investigations into Green have concluded, The Times has reported. Investigations by the The Pensions Regulator and The Insolvency Service are expected to take many months, if not years.

In a letter to Frank Field MP, who chaired the parliamentary inquiry into the collapse of BHS, committee chairman Sir Jonathan Stephens said: “As you know, the government is taking the circumstances surrounding the collapse of BHS very seriously, including investigations by The Insolvency Service and the independent Pensions Regulator.

“I believe it will be important to ensure any consideration of Sir Philip’s case by the forfeiture committee should have the benefit of the findings of the independent inquiries into BHS by the relevant regulators.”

Earlier this week Green was said to be “close” to reaching a deal to plough £350m into the BHS pension scheme.

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