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 hits back at ‘biased and unfair’ BHS report

Arcadia boss Sir Philip Green has called the select committee report into the downfall of BHS the “predetermined and inaccurate output of a biased and unfair process”, and demanded an apology from work and pensions committee chairman Frank Field in relations to allegations he made on BBC Radio 4 yesterday.

“With the benefit of hindsight, clearly Retail Acquisitions and Mr Chappell were a very bad choice as purchaser on many fronts and I feel badly let down,” said Green in a statement made yesterday evening.

“Sadly, one cannot turn the clock back. The disposal of BHS was made 100% in good faith and I still believe that we provided Retail Acquisitions and Mr Chappell with the appropriate finance (around £200m of cash and assets) to take the business forward.”

Green reiterated that he is trying to find a solution for the BHS pension and continuing to work with The Pensions Regulator to achieve an outcome.

“I am sad and sorry for all the BHS people caught up in this horrid story, but I do not believe that this story is being in any way fairly portrayed,” he added.

Separately, Green has appointed City law firm Schillings to demand an apology within 24 hours from Field, who alleged that Green had stolen money from the BHS and Arcadia pension funds.

This statement is highly defamatory and completely false,” the letter said. “Our client has never stolen any money from BHS, Arcadia or the pension funds and you know that.”

The firm said an allegation that Green is a thief is likely to cause serious harm and requested a response within 24 hours.

Yesterday the work and pensions committee, and the business, innovations and skills committee published a report that pointed the finger at Green as responsible for the collapse of BHS.


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.