Under new proposals suggested by a group of MPs, 30 of Britain's biggest privately owned companies would have to set out how they comply with the code on matters such as accountability, relations with shareholders and remuneration, or to explain why they have not complied with the rules.
Arcadia Group, the company behind high street favourites such as Topshop and Miss Selfridge is also one of the firms identified by MPs as part of an investigation into the collapse of BHS, along with other fashion stores River Island and New Look.
MPs argue that the biggest firms which are not listed should be more transparent following the collapse of BHS last year which left a huge £200m pension deficit. They claim the stricter reporting would reduce the chances of such a thing happening again.
|2 Sisters Food Group|
|New Look Retail|
|Arnold Clark Automobiles|
|Pret a Manger|
|Odeon and UCI Cinemas Group|