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| Version 2 | Version 3 |
|---|---|
| MPs set to question BHS directors and advisers | MPs set to question BHS directors and advisers |
| (35 minutes later) | |
| MPs will examine the role that BHS directors and advisers played before the retailer was sold for £1 last year by Sir Philip Green. | MPs will examine the role that BHS directors and advisers played before the retailer was sold for £1 last year by Sir Philip Green. |
| It was bought by Retail Acquisitions, a vehicle led by Dominic Chappell, who had no retailing experience and had been declared bankrupt at least twice. | It was bought by Retail Acquisitions, a vehicle led by Dominic Chappell, who had no retailing experience and had been declared bankrupt at least twice. |
| The MPs will also scrutinise the checks carried out on Retail Acquisitions before the deal was completed. | The MPs will also scrutinise the checks carried out on Retail Acquisitions before the deal was completed. |
| Lord Grabiner, chairman of Sir Philip's retail empire, will be among those answering questions today. | Lord Grabiner, chairman of Sir Philip's retail empire, will be among those answering questions today. |
| The barrister and long-time associate of Sir Philip has agreed to attend the joint session of the Commons Business and Work and Pensions select committees on Monday afternoon despite stating he had "no involvement" in the talks that led to the BHS sale. Neither did he attend the board meeting that approved the deal. | The barrister and long-time associate of Sir Philip has agreed to attend the joint session of the Commons Business and Work and Pensions select committees on Monday afternoon despite stating he had "no involvement" in the talks that led to the BHS sale. Neither did he attend the board meeting that approved the deal. |
| Lord Grabiner's cousin, Ian Grabiner, is chief executive of Sir Philip's Arcadia Group, which owns chains including Topshop. | Lord Grabiner's cousin, Ian Grabiner, is chief executive of Sir Philip's Arcadia Group, which owns chains including Topshop. |
| 'Questions to answer' | |
| Business select committee chairman Iain Wright told BBC Radio 4's Today programme that there were "real questions to answer" regarding the role of Sir Philip and of the wider Arcadia group, as well as the advice that they received in the run-up to the sale of BHS. | Business select committee chairman Iain Wright told BBC Radio 4's Today programme that there were "real questions to answer" regarding the role of Sir Philip and of the wider Arcadia group, as well as the advice that they received in the run-up to the sale of BHS. |
| "We've not jumped to any conclusions whatsoever," he said. "We're going to listen very carefully to the answers from our questions and find out what the evidence suggests." | "We've not jumped to any conclusions whatsoever," he said. "We're going to listen very carefully to the answers from our questions and find out what the evidence suggests." |
| BHS collapsed into administration last month, putting 164 shops and almost 11,000 jobs at risk. | BHS collapsed into administration last month, putting 164 shops and almost 11,000 jobs at risk. |
| The firm's pension scheme has been left with a £571m deficit. | The firm's pension scheme has been left with a £571m deficit. |
| During the initial day of hearings, MPs will be focusing on the advice given to Arcadia directors in the run-up to the sale, as well as the role that those directors played in overseeing the decision to sell BHS. Pensions advisers will be among those giving evidence. | During the initial day of hearings, MPs will be focusing on the advice given to Arcadia directors in the run-up to the sale, as well as the role that those directors played in overseeing the decision to sell BHS. Pensions advisers will be among those giving evidence. |
| On Wednesday, the committees will question the advisers to Retail Acquisitions Limited, which bought BHS last year, as well as the BHS pension fund trustees. | On Wednesday, the committees will question the advisers to Retail Acquisitions Limited, which bought BHS last year, as well as the BHS pension fund trustees. |
| BHS management, the board of Retail Acquisitions, and its owner, Dominic Chappell, will give evidence on 8 June. | BHS management, the board of Retail Acquisitions, and its owner, Dominic Chappell, will give evidence on 8 June. |
| A week later, on 15 June, the MPs will question Sir Philip. | A week later, on 15 June, the MPs will question Sir Philip. |
| The two committees are holding separate inquiries relating to BHS, but these evidence sessions will be held jointly. | The two committees are holding separate inquiries relating to BHS, but these evidence sessions will be held jointly. |