Sir Philip Green vows to sort out pensions mess

Endaba Group

Sir Philip Green has vowed to sort out the pensions mess that followed the collapse of BHS last month. He has claimed to be working on a “resolvable and sortable” solution for 20,000 members of the BHS scheme and will give it his “best shot”. He has also said to have offered to help Sports Direct to buy BHS as Mike Ashley had offered to buy the business to keep the shops trading until Christmas 2016.

The pension scheme is now in the Pension Protection Fund, meaning that members will receive less money than they had originally expected.

He has come in for criticism for the £400m in dividends taken out of the firm during his 15-year ownership, his management of the pension scheme, and the sale of BHS in 2015 to bankrupt Dominic Chappell, who had no retail experience.

Green claimes to have been working on a plan for the pension scheme, which was in surplus when he acquired BHS and now has a £571m deficit!