Green Summoned To Parliament Over BHS Collapse

Former BHS owner Sir Philip Green has been formally invited to give evidence to MPs over the collapse of the department store chain.

The Arcadia Group boss is facing a double inquisition by two select committees over the firm's demise.

The Work and Pensions Committee (WPC) is probing the outflow of cash from BHS and its pension fund.

Committee chairman Frank Field MP said: "The spine of our inquiry is looking at how and where money went out of the company, to whom it went, and how this may have disadvantaged the pensioners."

Sir Philip's wife, Lady Green, and the current owner of BHS, Dominic Chappell, have also been summoned to give evidence to the WPC.

The Business, Innovation and Skills Committee is examining the £1 sale of BHS to Mr Chappell in 2015 and whether the steps taken were responsible.

Committee chairman Iain Wright MP earlier said the company's collapse had brought "misery and uncertainty for thousands of workers" while putting a "potentially significant" burden on the taxpayer in the form of pension liabilities.

BHS went into administration last week after 88 years on the British high street, putting 11,000 jobs at risk.

Administrators are currently seeking buyers for the retailer as a going concern and Mr Chappell said he is looking for US investment to draw up a rescue package.

According to reports, Sports Direct owner Mike Ashley was in talks to save the retailer days before its collapse and is still considering a buyout that would preserve the entire chain.

In a statement to the Sunday Telegraph, Mr Ashley said: "Any continuing interest that we have in BHS would be on the basis that we would anticipate that there would not be any job losses, including jobs at head office, and that all stores would remain open."