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Parliamentary report blames Green for BHS collapse

25 July 2016 - Janet Bird

philip green blamed over bhs

After a weekend that saw 20 BHS stores close their doors for the last time, an official parliamentary report has placed the blame for the chain's collapse squarely on the shoulders of former owner Sir Philip Green.

The 60-page report, which outlines the findings of a joint inquiry by the business, innovation and skills and work and pensions select committees - cites what it labels the personal greed of Green and his family and a string of leadership failures as the primary causes of BHS' collapse.

Twice bankrupt Dominic Chappell who, along with his Retail Acquisitions consortium, bought BHS from Green for just £1, is described by MPs involved in the inquiry as "manifestly unsuitable" to take over the business. Goldman Sachs also draws criticism for its involvement in the sales process to Chappell.

But the MPs were in no doubt Sir Philip bore the greatest blame for what happened and have urged him to make good on his promise to "sort" the £571 million black hole in the BHS' pension fund.

Meanwhile, ten more BHS stores are expected to close their doors by the end of this week, bringing the total number of closures to date to 30 and putting around 700 employees out of work.


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