MPs have backed a decision for former BHS owner Sir Philip Green to be stripped of his knighthood. The fight for Sir Philip Green’s reputation was triggered by the collapse of the high street chain, which made him a billionaire. The collapse has cost 10,000 jobs and put over 20,000 pensions at risk. Earlier this week Sir Philip published a legal opinion which he commissioned from two lawyers, which dismissed the MPs’ accusations as “bizarre”, “unsupportable” and tainted by “bias”.
“He beat it black and blue” said Labour MP Ian Wright at the three-hour debate on Thursday. “He starved it of food and water, he put it on life support, and then he wanted credit for keeping it alive.” The chairman of the Work and Pensions Committee Frank Field said that the former BHS owner could have solved the company’s issues easily and helped to build a stronger pension regime. Despite this parliamentary decision, Sir Philip will not lose this knighthood unless the Honours Forfeiture Committee decides to remove it. The committee is unlikely to make a decision until it becomes clear whether Sir Philip has honoured his pledge to remedy the pension deficit left behind by the demise of BHS through handing over a sizeable amount of his personal fortune.