MPs plan to question Sir Philip Green over BHS

Former BHS owner Sir Philip Green is expected to be called to appear before MPs to face questions over the collapse of the department store and the retailer’s pension liabilities.

The cross-party Work and Pensions Committee chair Frank Field has told reporters that the retail billionaire “will be invited” to proceedings that will examine how the collapse of BHS, which was placed into administration this week, will affect the retailer’s pension liabilities as it has a deficit in its scheme of 571 million pounds.

Field added: "We need as a committee to look at the Pension Protection Fund and how the receipt of pension liabilities of BHS will impact on the increases in the levy that will now be placed on all other eligible employers to finance the scheme.

"We will then need to judge whether the law is strong enough to protect future pensioners' contracts in occupational schemes.”

Green sold BHS last year for one pound to a consortium of investors, Retail Acquisitions headed up by Keith Smith, a former director of small-to-mid capital broking house Nabarro Wells.

Separately, the Pensions Regulator will investigate whether BHS's former owners sought to avoid their obligations and should be pursued for contributions.