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Sir Philip Green's reputation torn apart in damning report on BHS demise

Jul 25, 2016 - The Guardian (London)

BHS was subject to "systematic plunder" by former owners Sir Philip Green, Dominic Chappell and their respective "hangers-on", according to MPs, leading to the collapse of a company that once employed 11,000 people.

A damning report published on Monday after weeks of evidence from former executives and advisers says the "tragedy" of BHS was the "unacceptable face of capitalism" and raises questions about how the governance of private companies and their pension funds should be regulated.

All BHS's remaining stores will close by the end of August after the department store group went into administration in April leaving a �571m pension deficit. Green sold BHS for �1 in March 2015 to a consortium led by Chappell, a serial bankrupt. The retailer failed 13 months l...