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Sir Philip Green must repay £400m or lose knighthood, says MP

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    Sir Philip Green must repay £400m or lose knighthood, says MP

    Retail tycoon Sir Philip Green is facing calls to give up his knighthood if he does not pay back dividends received from BHS when he owned the stores chain.



    The calls came as the work and pensions select committee confirmed it will investigate how the BHS pension scheme, which has a deficit of £571m, will affect the state-backed Pension Protection Scheme (PPF). Frank Field, the chairman of the committee, said he plans to call Green to face MPs as part of the investigation.

    BHS called in administrators on Monday, putting almost 11,000 jobs at risk and the PFF is set to take on the company’s pension scheme. There was further bad news for the retail sector on Tuesday as clothing retailer Austin Reed also collapsed into administration, threatening more than 1,000 jobs.

    Green and Dominic Chappell, who bought BHS from the billionaire tycoon for £1 in March 2015, are facing questions about their management of the retailer.

    More from the source: Sir Philip Green must repay £400m or lose knighthood, says MP | Business | The Guardian

    Would you return £400 mln to keep knighthood or not?
    14
    Return £400 mln and keep knighthood
    7.14%
    1
    Keep £400 mln and give up knighthood
    42.86%
    6
    Shift all money to AndyW's mum and claim poverty
    50.00%
    7

    #2
    Maybe if I had £4bn
    Originally posted by MaryPoppins
    I'd still not breastfeed a nazi
    Originally posted by vetran
    Urine is quite nourishing

    Comment


      #3
      Green is a greedy, smug chum of Bliar.

      Love to see both nailed to the wall.

      Comment


        #4
        He last took dividends in 2004 when BHS was profitable and there was surplus in the pension fund.
        It was profitable until 2007 and the recession.
        BUt hey why let the facts get in the way: because now what everyone seems to want is a poverty stricken insular Corbynistic republic in the North Sea. We can all be teachers and do each other's tattoos.
        Hard Brexit now!
        #prayfornodeal

        Comment


          #5
          Originally posted by sasguru View Post
          He last took dividends in 2004 when BHS was profitable and there was surplus in the pension fund.
          So instead of keeping surplus in pension fund he took it out as dividends?

          He "sold" firm for £1 to somebody who was bankrupt (twice!) and no experience in retail, then the "buyers" appear to have taken £25 mln FROM Bhs for themselves.

          Comment


            #6
            Originally posted by sasguru View Post
            He last took dividends in 2004 when BHS was profitable and there was surplus in the pension fund.
            It was profitable until 2007 and the recession.
            BUt hey why let the facts get in the way: because now what everyone seems to want is a poverty stricken insular Corbynistic republic in the North Sea. We can all be teachers and do each other's tattoos.
            Cretin alert!

            Comment


              #7
              Originally posted by AtW View Post
              So instead of keeping surplus in pension fund he took it out as dividends?

              He "sold" firm for £1 to somebody who was bankrupt (twice!) and no experience in retail, then the "buyers" appear to have taken £25 mln FROM Bhs for themselves.
              There was a surplus in the pension after he took the last dividend. What were the trustees of the fund doing?

              The sale was obviously a bad one, but that's a separate issue.
              Hard Brexit now!
              #prayfornodeal

              Comment


                #8
                Originally posted by DimPrawn View Post
                Cretin alert!
                In what way? Do you not take dividends when you've made a profit?
                Hard Brexit now!
                #prayfornodeal

                Comment


                  #9
                  What he did was legal.

                  The law should have been changed after Rover.

                  Comment


                    #10
                    Originally posted by sasguru View Post
                    In what way? Do you not take dividends when you've made a profit?
                    In the way that you are the uber-cretin. A low life leech who adds nothing.

                    I thought you were off for the night? Can't we have a rest from your monotonous idiocy for one night?

                    Comment

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