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| Knighthood of Sir Philip Green under review following BHS failure | Knighthood of Sir Philip Green under review following BHS failure |
| (about 2 hours later) | |
| Sir Philip Green’s knighthood is under review following complaints about his former ownership of the failed department store chain BHS, it has emerged. | Sir Philip Green’s knighthood is under review following complaints about his former ownership of the failed department store chain BHS, it has emerged. |
| The Cabinet Office confirmed in a letter to a Labour MP that it was looking into Green’s knighthood after there were a number of calls for him to be stripped of the honour. | The Cabinet Office confirmed in a letter to a Labour MP that it was looking into Green’s knighthood after there were a number of calls for him to be stripped of the honour. |
| The statement to Jim McMahon set out the process of cancelling an honour, which has to be recommended by the Cabinet Office and forfeiture committee before being approved by the Queen. It said: “I hope you will understand that I cannot comment on the particular circumstances of Sir Philip, but I can assure you that the case is being reviewed.” | The statement to Jim McMahon set out the process of cancelling an honour, which has to be recommended by the Cabinet Office and forfeiture committee before being approved by the Queen. It said: “I hope you will understand that I cannot comment on the particular circumstances of Sir Philip, but I can assure you that the case is being reviewed.” |
| Related: McDonnell joins calls to strip Sir Philip Green of knighthood if he snubs MPs | Related: McDonnell joins calls to strip Sir Philip Green of knighthood if he snubs MPs |
| Green has been heavily criticised for taking large sums of money out of BHS before selling the company to a three-time bankrupt just over a year before it failed. MPs on the Commons work and pensions committee are expected to heavily criticise the actions of Green, who sold BHS for £1 to Dominic Chappell in March 2015, in a report scheduled to be published shortly. | Green has been heavily criticised for taking large sums of money out of BHS before selling the company to a three-time bankrupt just over a year before it failed. MPs on the Commons work and pensions committee are expected to heavily criticise the actions of Green, who sold BHS for £1 to Dominic Chappell in March 2015, in a report scheduled to be published shortly. |
| A Cabinet Office spokesperson said on Friday: “Applications for forfeiture are considered by an independent committee. They have been clear that they will not consider reviewing an honour until any formal reviews or investigations which establish the facts of a case have been completed. However, we continue to keep the case under review.” | |
| Last week, Green set out a robust defence of his stewardship of BHS, claiming that he put £421m into the group during his 15 years at the helm. In a letter to MPs investigating the demise of BHS, which is being wound down after falling into administration with a £571m pension fund deficit, Green said: “It is clear that we invested substantially in the business.” | Last week, Green set out a robust defence of his stewardship of BHS, claiming that he put £421m into the group during his 15 years at the helm. In a letter to MPs investigating the demise of BHS, which is being wound down after falling into administration with a £571m pension fund deficit, Green said: “It is clear that we invested substantially in the business.” |
| The amount of capital investment highlighted by Green during his tenure almost exactly matches the £423m paid in dividends to his family and other BHS shareholders between 2000 and 2004. It is part of the more than £580m, including rental payments and interest, extracted from the company under his control. | The amount of capital investment highlighted by Green during his tenure almost exactly matches the £423m paid in dividends to his family and other BHS shareholders between 2000 and 2004. It is part of the more than £580m, including rental payments and interest, extracted from the company under his control. |
| The review of Green’s knighthood comes at a time when the government is embroiled in a row about David Cameron’s decision to draw up a list of honours in his last week in office. | The review of Green’s knighthood comes at a time when the government is embroiled in a row about David Cameron’s decision to draw up a list of honours in his last week in office. |
| It was reported on Thursday that some of Cameron’s suggestions for peerages or other honours for his advisers and supporters have been blocked by the Cabinet Office, delaying the publication of the final list. At least three Tory donors were vetoed last year over concerns about their suitability to be peers. | It was reported on Thursday that some of Cameron’s suggestions for peerages or other honours for his advisers and supporters have been blocked by the Cabinet Office, delaying the publication of the final list. At least three Tory donors were vetoed last year over concerns about their suitability to be peers. |
| Tom Watson, Labour’s deputy leader, said: “First David Cameron overruled civil service advice in order to give massive payoffs to his special advisers and now we learn officials have reportedly raised concerns about the suitability of some of his resignation honours. | Tom Watson, Labour’s deputy leader, said: “First David Cameron overruled civil service advice in order to give massive payoffs to his special advisers and now we learn officials have reportedly raised concerns about the suitability of some of his resignation honours. |
| “Given the former prime minister previously claimed to want to clean up the political system this level of cronyism is astounding.” | “Given the former prime minister previously claimed to want to clean up the political system this level of cronyism is astounding.” |