MPs urge the Pensions Regulator to look into whether they can seize Sir Philip Green’s superyacht November 22, 2016 Sir Philip Green’s £100m superyacht – Lionheart – could be used to pay the pensions of thousands of BHS workers. The chair of cross-party Work and Pensions Commons Committee MP Frank Field has written to the Pensions Regulator to ask if it can acquire "assets other than cash from a person from which payment is being [...]
Sir Philip Green takes fresh swipe at Frank Field on the eve of parliamentary showdown October 19, 2016 First Sir Philip Green published a report from a top lawyer criticising MPs, and now he’s gone one step further by launching a stinging attack on Frank Field in the form of a letter from the retailer. On the eve of the Commons debate on whether Green should be stripped of his knighthood, a letter seen by [...]
Arcadia boss Sir Philip Green could face grilling from two separate MP committees over BHS’ demise and £571m pension shortfall April 27, 2016 Update: The most recent owners of BHS will be called in front of MPs, according to reports. MPs on the business, innovation and skills (BIS) select committee will call them in to give evidence, Sky News has reported. Meanwhile, the Work and Pensions select committee has said it will call former BHS boss Sir Philip Green [...]
BHS pension scheme: Sir Philip Green has said he will contribute £363m, but what happens next? February 28, 2017 Sir Philip Green might be paying up £363m to sort out the gap in the BHS pension schemes, but that’s not the end of the saga for the fallen retailer. What options do those with BHS pensions now have? The 19,000 scheme members have three options to mull; transferring to a newly created pension scheme, [...]
Now the pensions watchdog is taking a closer look at the rest of Green’s empire July 31, 2016 Sir Philip Green may have a fresh set of questions to answer, as the pensions watchdog has launched a probe into the Arcadia Group. The Pensions Regulator (TPR) is already looking at whether it can demand Green foots the bill for the blackhole in the BHS pension scheme. Now, The Sunday Times has reported TPR is investigating [...]
BHS’ bosses’ cash comes under pressure from pensions lifeboat November 20, 2016 The pensions lifeboat is pushing for legal action to claw back funds from former BHS directors. The once high street staple fell into administration back in April, and was running a deficit worth £571m for its 20,000 member-strong pension schemes at the time. The department store chain's collapse, which ultimately resulted in the closure of over [...]
Sir Philip Green locked in battle with BHS administrator over fate of £35m charge November 6, 2016 Sir Philip Green is at odds with one of BHS' administrators over a charge worth millions that his Arcadia Group holds over the collapsed retail chain. BHS fell into administration this April, running a pension deficit worth £571m at the time, and it was later decided the company could not be saved and would need [...]
Sir Philip Green is threatening legal action against the chair of a parliamentary inquiry into the collapse of BHS July 25, 2016 Retail tycoon Sir Philip Green is threatening to sue work and pensions committee chair Frank Field over some of his comments relating to the collapse of BHS. Green has appointed law firm Schillings, who today wrote to Field demanding an apology within 24 hours. The lawyers claim Field accused Green of stealing money from the BHS and Arcadia pension funds in an [...]
BHS fiasco rumbles on as Goldman Sachs and The Pensions Regulator due to reappear in front of the committees next week June 26, 2016 The BHS saga starts a new chapter next week, with two more evidence hearings due to take place in parliament. On Tuesday afternoon, the Work and Pensions committee and Business, Innovation and Skills committee are set to hear from Alex Dellal, Allied Commercial Exporters, Paul Sutton, Lesley Titcomb, chief executive of The Pensions Regulator and Neville Kahn, managing partner, financial [...]
Sir Philip Green is looking to save 1,000 staff in BHS concessions June 22, 2016 Retail tycoon Sir Philip Green is trying to save 1,000 staff working throughout the stores of the embattled high street stores in the Arcadia concessions. The retail boss is looking to relocate as many of the staff as possible in the shops of Arcadia's brands. Green recently told MPs that he is working on a solution to [...]