Insolvency Service Issues Statement on BHS

The Insolvency Service has issued a statement following its investigations into the collapse of the retailer BHS. Although subject to further court action the organisation is recommending disqualifications for Dominic Chappell, but is intending to take no further action against Sir Philip Green.

A spokesperson for the Insolvency Service said:

“We can confirm the Insolvency Service has written to Dominic Chappell and three other former directors of BHS and connected companies informing them that we intend to bring proceedings to have them disqualified from running or controlling companies for periods up to 15 years.

We can also confirm that we have written to Sir Philip Green, also a former director of BHS, informing him that we do not currently intend bring disqualification proceedings against him. As this matter may now be tested in the Court it is not appropriate to comment further”.

Sir Philip Green, Former Owner of the Failed BHS Company, Demands the Resignation of Frank Field

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Sir Philip Green, the former owner of BHS, has called on Frank Field to resign from his position as the chairman of the Work and Pensions select committee. BHS collapsed with the loss of over 11,000 jobs and questions have been asked about Green’s involvement in the process.

Green said:

“I am not prepared to participate in a process which has not even the pretence of fairness and objectivity and which has as its primary objective the destruction of my reputation”.

Field said that he hadn’t received a letter from Green but said:

“The House of Commons decides who chairs these committees, not Sir Philip Green. It’s in his interest to turn up”.

The committee has been hearing evidence from the former management of BHS, where senior managers admitted that there was serious division at the top of the organisation. The committee is likely to ask Green about why his organisation took money out of the business whilst the pensions deficit was growing in size.