Hopes grow of deal to fill BHS pension black hole

31 January 2017 - Janet Bird

bhs store

Almost a year after high street giant BHS collapsed, hopes are growing of a deal that will help fill the stricken retailer's pension deficit.

According to Sky News, former BHS owner Sir Philip Green is close to agreeing a deal in which he will provide £350 million to help fund the £571 million black hole in the pension scheme. Indeed, Sky believe a preliminary deal could be announced within days.

The Pensions Regulator announced enforcement action would be taken against a number of parties - including Sir Philip - last November, after efforts to reach a deal to plug the pension gap failed.

BHS went into administration a year after Green sold the chain to serial bankrupt Dominic Chappell for just £1.

Green is believed to have previously offered to put £250 million into the pension fund, around £100 less than demanded by the Pensions Regulator.

However, it is believed talks are now moving forward again and hopes are growing that agreement can be reached on a way forward.

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