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Sir Philip apologises to BHS staff and vows to 'sort' pension scheme

Sir Philip Green has apologised to the staff of collapsed retailer BHS, adding that he will "sort" the firm's dilapidated pension scheme which has a £571 million black hole.

On Wednesday, the Topshop billionaire faced MPs from the Business and Pensions committees who are investigating the firm's failure.

He said: "I just want to apologise to all the BHS people who are involved in this and have been involved."

Sir Philip told MPs he offered £5m to help Mike Ashley secure a deal for BHS after the high-street chain went into administration.

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'Many further questions' for Sir Philip flagged

A statement released by MPs in the wake of Sir Philip Green's appearance before a committee panel today states that his evidence given flags "many further questions" for the former BHS boss.

The statement states: "We have many further questions for Sir Philip, particularly the big questions on the pension fund that he was unable to answer today."

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