Select Committee · Work and Pensions Committee
The sale and acquisition of BHS inquiry
Status: Closed
Opened: 3 May 2016
Closed: 3 May 2016
Inquiry scope
MPs catalogue litany of failures culminating in 'at any cost' disposal of company and pension deficit to wholly unsuitable "chancer". In their report on BHS, the Work and Pensions and Business, Innovations and Skills Committees conclude that Sir Philip chose to rush through the offloading of a beleaguered high street institution, losing money and encumbered with a massive pension fund deficit, to a buyer who he was clearly aware was "manifestly unsuitable", with Sir Philip forced to finance the sale himself.Correspondence
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