Sir Philip Greed to cough up

MP’s pledge: Fight goes on

Daily Star - - Front Page - by LAU­REN CLARKE lau­ren.clarke@dai­

SIR Philip Green has paid £363mil­lion to set­tle the pen­sion schemes of col­lapsed High Street re­tailer BHS.

The Top­shop ty­coon fi­nally forked out af­ter months of pub­lic pres­sure and out­rage.

CAM­PAIGN­ERS last night hit out at for­mer BHS boss Sir Philip Green’s £363mil­lion pay-out to work­ers who lost pen­sions when the High Street store col­lapsed.

Crit­ics say the amount – £208m less than the £571m pen­sion black hole – is “too lit­tle, too late”. Sir Philip’s chief tor­menter, Labour MP Frank Field vowed the fight did not “end here”. Mr Field, who co-chaired a par­lia­men­tary in­quiry into the demise of BHS, said: “I think there are a lot of other is­sues which are not solved which we will ob­vi­ously be look­ing at and the courts and ev­ery­body else will be. “It’s not jus­tice, but it’s a mile­stone.” The bil­lion­aire Top­shop ty­coon agreed to the pay-out af­ter months of pub­lic out­rage and pres­sure. He said the amount was “sig­nif­i­cantly bet­ter” for em­ploy­ees than if they had been com­pen­sated by the Pen­sion Pro­tec­tion Fund. But for­mer coali­tion Pen­sions Min­is­ter Steve Webb said Sir Philip could have spared staff “many months of mis­ery and un­cer­tainty” if he had stumped up the cash ear­lier. BHS col­lapsed in April af­ter Sir Philip sold it for just £1 to three-time bank­rupt busi­ness­man Do­minic Chap­pell. More than 11,000 jobs and 19,000 pen­sion hold­ers were im­pacted when the re­tail gi­ant crum­bled. The fall­out sparked a par­lia­men­tary in­quiry in which MPs backed a non-bind­ing mo­tion to strip Sir Philip of his knight­hood. Sir Philip said: “Once again I would like to apol­o­gise to the BHS pen­sion­ers for this last year of un­cer­tainty, which was clearly never the in­ten­tion when the busi­ness was sold.”



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