Sir, Yesterday’s out-of-court settlement will give BHS pensioners a better retirement than had previously looked likely. This marks a really important milestone on the road to justice, but we are far from reaching the end of that road.
The Insolvency Service has put together a top team to take a forensic look at how and why BHS went under. The liquidator is likewise taking its work up a gear, poring through the deals that took place between Sir Philip Green and Dominic Chappell. Mr Chappell, moreover, was recently arrested as part of an HMRC inquiry.
Clearly the outcomes of each of these investigations will give the government some key decisions to make — both on how to hold those responsible for the demise of BHS to account, and on ways it can ensure such a demise does not afflict other companies employing thousands of workers, and with large pension funds, in future. Only then will the journey towards gaining justice for the BHS pensioners and former workers be complete.
Frank Field MP
House of Commons