MPs investigating the collapse of BHS have written to Sir Philip Green's wife, Lady Tina Green, seeking greater clarity on the “complex and very opaque web” of private businesses owned by the Green family.
Iain Wright MP, chair of the BIS Committee, said: “These complicated arrangements make it very difficult to trace where all the funds have gone. We are keen to follow the money and look forward to Lady Green in her capacity as owner and ultimate beneficiary of these companies writing to us to explain some of these arrangements and to set out what income her businesses have received from BHS.”
Together with the Work & Pensions Committee, the BIS Committee has requested information on shareholders and where the companies are registered. They have also asked for an explanation of Sir Philip Green’s role in their operation, if any.
Iain Wright MP, chair of the BIS Committee, said: “During the hearings of our BHS inquiries, a whole array of further questions have been raised about how a big high-street name with 11,000 staff was sold for a £1 to someone with no experience of retail.”
BHS is being wound up after it fell into administration under its last owners and failed to find a buyer. Its pension is nursing a £571m deficit.