The report increases pressure for Mr Green’s 2006 knighthood for services to retail to be revoked.
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The prime minister, who had already pledged to crack down on large-scale corporate and personal tax avoidance while in office, wants to ensure “everyone shares in the country’s economic benefits and growth”, May’s spokesperson said on Monday.
Green then sold the chain to a firm called Retail Acquisitions, reportedly for £1.
“It is for them to look at it”, she added.
The retail tycoon launched the latest salvo in his ongoing war of words with the Work and Pensions select committee chair as it published its scathing report on the collapse of BHS earlier this year.
As far as the establishment club are concerned, Philip and Tina Green can continue living their spectacularly decadent lifestyles on the hundreds of millions they extracted out of the business they completely ruined because the disappointment of Philip losing his knighthood is supposedly punishment enough.
Leadership candidate Owen Smith said the Government should take action.
“These reports expose the level of incompetence and corporate irresponsibility at the heart of BHS’s leadership”, he said.
His demands were echoed by Labour leadership candidate Owen Smith, who said “Sir Philip Green’s greed has costs thousands of people their jobs and put tens of thousands of people’s pensions at risk”.
The newly-purchased superyacht – reportedly Philip Green’s third – is the length of a football pitch and is believed to sleep 12 guests and 28 crew.
Billionaire retailer Sir Philip Green has joined an infamous band of businessmen who have been derided as the “unacceptable face of capitalism”. Some 22,000 retired staff face income cuts after Sir Philip let the pension fund go from surplus to a £571million deficit, the MPs said.
“There are over 6,000 defined benefit (DB) schemes in the United Kingdom, with 11 million members and over £1 trillion of assets so it’s important to make sure schemes are secure and working hard for both members and the wider economy”.
Downing Street said the report produced by the MPs was “clearly concerning” and Prime Minister Theresa May would “lean lessons for the future” from the committees’ inquiry.
Around 11,000 people now stand to lose their jobs, with the company’s 88 stores due to close by August 20.
The committee found that one man is responsible for the demise of BHS and that was Sir Philip Green.
The letter calls for “an immediate and fulsome apology in relation to the allegation” and a reply from Mr Field with 24 hours of receipt of the correspondence. “I’ve always thought Maxwell meant to pay the money back, he was just going all over the place borrowing money to keep his companies going”.
“This person has plundered BHS and Arcadia”.
Mr Field said: “His family took out of BHS.a fortune beyond the dreams of avarice, and he’s still to make good his boast of “fixing” the pension fund”.
“I can assure the House we will do everything in our power to support workers and their families through this hard time”.
“Maxwell didn’t have it in his power”.
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BHS was also left with a £571m pensions black hole, affecting up to 20,000 members in the scheme. Having rejected Paul Sutton – “a fraudster and a bankrupt” – he settled on his junior business associate, Mr Chappell. The committees will turn to those questions in new inquiries. Sir Philip, he insisted, could help.
