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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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Sir Philip's reputation 'depends' on pensions action

Sir Philip has been answering questions over BHS in front of a panel of MPs. Credit: PA Wire

MPs Iain Wright and Frank Field issued a joint statement in the wake of Sir Philip Green's appearance before the Business and Pensions committees stating they are pleased the businessman has said he will try to put together a better deal for BHS pensioners but warning his reputation now 'depends' on what happens next.

We hope he will come up with an offer that is satisfactory to the Pensions Regulator.

However, he doesn't only have to satisfy the Pensions Regulator, today he is before the bar of public opinion. Much of his reputation now depends on how generously he responds.

– Iain Wright and Frank Field statement
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Sir Philip apologises to BHS staff and vows to 'sort' pension scheme

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