BHS tycoon warned over knighthood
TYCOON Sir Philip Green has been warned he could still lose his knighthood, one year after the collapse of store chain BHS.
Veteran Labour MP Frank Field said Green has not done enough to keep his title amid concerns over the £363million deal struck between the billionaire and the Pensions Regulator.
BHS had a pensions deficit of £571million, when the chain plunged into administration last April, with the loss of 11,000 jobs.
He said: “Sir Philip Green remains on the hook. The case against him will continue in the new Parliament.”
Field, who chairs the Work and Pensions Committee, called for tougher pensions legislation.
Green previously said the settlement was “significantly better” than if the scheme went into the Pension Protection Fund. He declined to comment yesterday.