BHS row costs Sir Philip £787million
ARCADIA boss Sir Philip Green’s fortune took a tumble when his reputation was hit after the collapse of BHS, which he sold for £1 to a man declared bankrupt three times.
It later emerged the department store’s two pension schemes had a total shortfall of £571million, risking the future of their 19,000 members and
prompting MPs to call him before a parliamentary select committee.
The 66-year-old saw his wealth fall £787million to £2billion, having dropped £433million last year.
He dropped from 41st to 66th in the list due to falling sales at brands Topshop and Miss Selfridge and a promise to pay £363million to BHS’s pension fund.