Sir Philip Green and The Pensions Regulator are acting “like punch-drunk fighters” according to one of the chairs of a parliamentary enquiry into BHS
The chair of parliament's business committee has blasted Sir Philip Green and The Pensions Regulator for their failure to make progress on BHS' pensions deficit.
Ian Wright told BBC's Today programme that he was frustrated by a lack of progress since Green told MPs in mid-June that he would offer a contribution to the collapsed retailer's pension scheme.
“Philip Green came before our committee and said he would sort out the pension scheme but there has been very little progress since then. If he wanted to sort this … he would be getting his cheque book out and sorting it now,” Wright said.
“The Pensions Regulator is in early discussions with Sir Philip’s people. They are circling around each other like punch-drunk fighters around the ring without landing a decisive blow,” he added.
“Philip Green needs to do the right thing. The responsibility for BHS, including the enormous pension scheme deficit, lies with Philip Green. It’s up to him. He has got the responsibility to sort it out.”
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The retailer wrote to work and pensions committee chair Frank Field in late July, stating that he found dealing with The Pensions Regulator “cumbersome and slow”, and argued that claims he only needed to issue a cheque “are utterly disingenuous”.
Thanks, in part, to the Brexit vote the BHS pensions deficit now stands at more than £700m.
A spokesman for Green declined to comment.