Sir Philip Green’s knighthood remains under threat despite the Arcadia boss making a voluntary contribution of £363m to the BHS pension scheme.
The Cabinet Office is still considering whether to remove Green’s honour, according to the newspaper City AM. Responding to a Freedom of Information request from the paper, the government said it was taking the collapse of BHS “very seriously” and that any decision taken by the Forfeiture Committee should consider any findings of independent inquiries into the retailer from relevant regulators.
MPs backed an amendment to strip Green of his knighthood at a House of Commons backbench debate in October last year.
Green said he hoped that his cash contribution to the BHS pension deficit earlier this month would put pensioners “minds at rest.” The Arcadia Group has also doubled payments into its pension fund to help tackle a deficit of £189.6m. Payments have gone up from £25m a year to £50m and the company has signed a new contribution arrangement with trustees.