Former BHS owner Sir Philip Green slams politicians for ‘trial by media’ and ‘leaping to conclusions’ May 5, 2016 Sir Philip Green, the former owner of collapsed retailer BHS, has hit out at politicians for conducting a “trial by media” and “leaping to conclusions” about his 15 year ownership of the firm. The Arcadia chief has written to Frank Field MP and Iain Wright MP, chairmen of the House of Commons Work and Pensions [...]
Sir Philip Green will be chatting with MPs tomorrow after all June 14, 2016 After a few days of doubt, Sir Philip Green has today confirmed that he will attend a hearing with MPs to discuss the collapse of BHS after all. There was some speculation that the Arcadia boss would bow out of his scheduled meeting after last week calling for the chair of the Work and Pensions select committee to [...]
Goldman Sachs are reviewing their relationship with Sir Philip Green after doomed BHS sale June 29, 2016 Goldman Sachs' vice chairman told MPs today that the firm's involvement in the doomed sale of BHS had not helped its reputation. Responding to a question from committee chair Iain Wright on whether Goldman Sachs' involvement in the BHS saga had helped the bank's reputation, vice chairman Michael Sherwood said: "No." "We have been reviewing Goldman's relationship with Philip green at this [...]
What to expect from Sir Philip Green’s appearance before MPs tomorrow June 14, 2016 The day is almost here… Sir Philip Green himself will (probably) make his appearance in front of MPs tomorrow to explain his part in the sale of BHS. So far there have been allegations of death threats, tantrums, and dramatic confrontations in hotel lobbies. As David Buik, market commentator for Panmure Gordan & Company, put it: "Wednesday’s testimony [...]
MP demands FRC investigates BHS directors April 29, 2016 An MP has written to the head of the Financial Reporting Council (FRC), calling for an investigation into the directors of BHS. Richard Fuller, MP for Bedford, urged Stephen Haddrill to probe the “conduct of directors and advisers, and other relevant interested parties” relating to the sale of BHS by Sir Philip Green to Retail [...]
Soubry says any wrongdoing over sale of BHS will be “taken very seriously” as MPs blast Sir Philip Green for the failure of the store June 6, 2016 Anna Soubry, minister for small business, industry and enterprise spoke strongly today in the House of Commons over the sale of BHS, saying any wrongdoing on the part of the directors of the company over its sale will be "taken very seriously." In a statement to the House of Commons, Soubry said: "Any wrongdoing will be taken very [...]
Retail Acquisitions may not have been fully aware of the BHS pension position when it first explored buying the retailer May 25, 2016 BHS' pensions fund trustees today told MPs that Retail Acquisitions may not have been fully aware of the pension scheme position when it began the process of buying the business. Speaking in front of the Work and Pensions committee and the Business, Innovation and Skills committee, Chris Martin, chair of the BHS Pension Fund Trustees, pointed [...]
Crunch week as BHS seeks a fresh start May 23, 2016 BHS hopes to enter a new era this week with the business set to be sold while its administrators prepare a high court complaint against the retailer’s former boss Dominic Chappell. Administrators plan to announce BHS’ new owner in the coming days, with bids understood to have come from Matalan founder John Hargreaves, Poundstretcher, and an [...]
Sir Philip Green would “welcome” opportunity to discuss the future of pensions regulations May 22, 2016 Sir Philip Green and Frank Field may finally be seeing eye-to-eye, with a spokesperson for the business tycoon today telling City A.M. that he would "welcome" the opportunity for a serious talk about pensions. BHS' pension scheme, which ran a deficit worth £571m when the retailer was put into administration last month, has proved something [...]
Now it’s the advisers’ turn to be grilled by MPs over BHS collapse May 22, 2016 The topic of the BHS collapse will be heading back into parliament tomorrow, with a string of advisers from top law and accountancy firms due to be grilled by MPs. Ian Greenstreet, partner at Nabarro, Tony Clare, partner at Deloitte, David Clarke, partner at KPMG, Richard Cousins and Steve Denison, both partners at PwC, Emma King, partner at Eversheds and Owen [...]