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MPs pile pressure on Sir Philip Green to resolve BHS pension black hole issue

Published 13/10/2016

MPs will be given the opportunity to debate the collapse of BHS next week
MPs will be given the opportunity to debate the collapse of BHS next week

Sir Philip Green is under increasing pressure from MPs to resolve BHS's near-£600 million pension black hole.

Commons Leader David Lidington confirmed a debate on the collapse of the high street giant will take place next week.

MPs will call on Sir Philip to "fulfil his promise" to resolve the pension issue while also condemning his sale of the company for £1 as "clearly not in the interests" of the firm's staff and pensioners.

BHS went into administration shortly after being sold by Sir Philip, with a £571 million pension scheme deficit.

The motion to be debated in the Commons on October 20 states: " That this House notes the recent joint report by the Business, Innovation and Skills and the Work and Pensions Committees on BHS.

"(This House) endorses that report's criticisms of the governance of the company and of the holding company, Taveta Investments Limited.

"(This House) believes that the sale of the company to Retail Acquisitions Limited for £1 was clearly not in the interests of British Home Stores' employees and pensioners.

"(This House) notes the failure of Sir Philip Green over many years to resolve the deficit in the BHS pension fund; and calls on him to fulfil his promise to do so forthwith."

Any vote on the motion would be non-binding.

Press Association

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