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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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Pensions Regulator denies refusal to work with Sir Philip

Pensions Regulator says its willing to work with Sir Philip over BHS Credit: Ben Birchall/PA

The Pensions Regulator (TPR) has denied implications it previously refused to engage with former BHS boss Sir Philip Green, after the businessman read out a letter from a pension trustee during a committee meeting saying "there have been talks on a solution, then "brick wall" of regulator".

The TPR said "it is not true to say we are refusing to engage with Sir Philip Green" and "our door is always open".

It is not true to say we are refusing to engage with Sir Philip Green, or his advisers, regarding the BHS pension scheme.

Our door is always open to discuss credible proposals and we have made initial contact with Sir Philip’s advisers to remind them of this point following comments that we have not engaged with them. We cannot comment further at this stage.

We will consider any credible and reasonable proposals that are put to us but we have not received details of any new proposal from Sir Philip Green or his advisers.

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

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