Sir Philip Green hits back at accusations that he ruined a deal to save BHS
Retail tycoon Sir Philip Green today hit out at accusations that he intervened in a deal that could have saved BHS.
Speaking to CityAM, a spokesperson for Green said: "Sir Philip Green provided significant funding to BHS to give it every chance of success under new ownership. He would have welcomed any genuine rescue plan for the business."
Read more: The six best moments from today's select committee hearing on the sale of BHS
Dominic Chappell – who bought BHS from Green for £1 – told MPs today that Green was obstructing a deal to save BHS. Chappell said Green went "insane" at the idea that Mike Ashley wanted take on the struggling high street store.
A spokesman for Green said the businessman was "unaware of any bid interest with Mike Ashley" and "did not ban or block Retail Acquisitions from meeting with the pensions regulator", as Chappell had alleged. Chappell told MPs the company had been held to ransom by the pensions regulator and Green would not allow Retail Acquisitions to meet the watchdog when outlining the deal.
Read more: MPs blast Sir Philip Green for the failure of BHS
Chappell also said Green described BHS' administrators as his "ponies" that would do his bidding. Green denies this.
The accusations came to light as Chappell gave evidence today to the joint select committee inquiry into the sale of BHS. He said his lawyers are considering launching a case against Green.
Green's spokesperson said Arcadia "invested substantially in BHS and there was significant funding at the point of sale", adding that he "gave Retail Acquisitions every opportunity to succeed in the turnaround."
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