Sajid Javid, the Secretary of State for Business, Innovation and Skills, has fast-tracked an investigation into why the retailer BHS collapsed last week.
Javid confirmed that the investigation would cover the actions of both current and past directors to ascertain if their actions caused detriment to creditors of the company.
Javid said in a statement:
“I have asked the Insolvency Service to bring forward its investigation rather than wait 3 months for the administrators to report before launching their inquiry. This investigation will look at the conduct of the directors at the time of insolvency and any individuals who were previously directors. Any issues of misconduct will be taken very seriously”.