Tuesday, August 16, 2022

Ian Wright MP urges Sir Philip Green to get on with sorting out BHS pension deficit

Ian Wright MP has joined his colleagues Frank Field MP in urging former BHS owner Sir Philip Green to “do the right thing” by sorting out the former retailer‘s pension deficit.

Wright – who chairs the business, innovations and skills committee and co-led the BHS parliamentary inquiry with Field, the chair of the work and pensions committee – told the BBC‘s Today program that he was disappointed that Green has not yet bailed out BHS‘ pension deficit, which affects as many as 11,000 former employees.

RELATED: Sir Phillip Green should “be writing a cheque saying I‘m sorry”: Lady Barbara Judge

“Philip Green came before our committee [in June] and said he would sort out the pension scheme, but there has been very little progress since then,” Wright said.

“If he wanted to sort this he would be getting his cheque book out and sorting it now.”

The BHS pension deficit could grow to over £700 million thanks to the recent interest rate cut by the Bank of England.

Last week, Field met with the Serious Fraud Office to discuss the conduct of Green, who owned BHS from 2000 until he sold it to former bankrupt Dominic Chappell in 2015 for £1.

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