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Sir Philip Green faces renewed scrutiny

By Don-Alvin Adegeest

13 Feb 2017

Business

Sir Philip Green, owner of fashion emporium Arcadia Group, is once again under scrutiny from members of parliament.

MPs have cited Green's Arcadia fashion group as a key target in a major crackdown on secretive private businesses, according to the Mail on Sunday.

The Work and Pensions Committee of MPs, chaired by Green’s fiercest critic, Frank Field MP, has called for more openness and accountability from large private companies citing Green’s ownership of BHS as a ‘lamentable’ example of how such firms are sometimes run, stated the broadsheet.

MPs are demanding that directors should be made more legally responsible and are calling for tough rules to curb the power of heads of big firms.

The revelations are detailed in a report published after a probe triggered by BHS’s collapse.

The report lists the 30 largest private employers which it believes should be made more accountable including Virgin Atlantic, Specsavers, Matalan, New Look, Iceland and River Island.

Photo credit: Sir Philip Green, source: Wikipedia Commons

Arcadia Group
Philip Green