Sir Philip Green 'has no intention' to watch Greed film

Sources close to retailer Sir Philip Green understand he has no intention of watching the new movie Greed.

The lead character is thought to be loosely-based on Sir Philip, who owns the Arcadia group which includes Topshop and Burton.

Steve Coogan plays a billionaire boss of a retail empire in crisis. He told the BBC it was not a "direct attack" on Sir Philip.

An Arcadia spokesperson would not comment on the release of the film.

The release follows the fictional Sir Richard McCreadie as he appears before a parliamentary select committee and throws an extravagant party on Mykonos.

Sir Philip, now based in Monaco, has been accused of tax avoidance and was questioned by MPs on his role in the demise of the chain BHS.

Sir Philip Green gave evidence to the Business, Innovation and Skills Committee and Work and Pensions Committee on the collapse of BHS.

He was also criticised for holding a lavish party in the Maldives which allegedly featured topless dancers and a giant Buddha statue. It was said to be at odds with the culture of the islands.

In an interview with the BBC, Steve Coogan said that although Greed is just one letter away from Green, the film "is not a direct attack" on the retailer.

Mr Coogan said: "He's [Sir Philip] a charismatic figure, it was a good basis on which to develop this movie idea."

In Greed, Mr Coogan and director Michael Winterbottom target bosses of multinational companies, who he says are turning over "massive profits" while factories they use in developing nations like Sri Lanka pay their workers about £3 a day.

Arcadia has denied using sweatshops and expressed disappointment when it has been "found a supplier had clearly breached" its code of conduct.

Steve Coogan plays the character of Sir Richard McCreadie

In a press release promoting the film's release, the character McCreadie is said to have been called "the acceptable face of capitalism".

Sir Philip was branded as the "unacceptable face of capitalism" in a damning report by MPs that found Sir Philip left BHS "on life support".

BHS went bust in April 2016, leaving a £571m pensions deficit. He eventually paid out £363m of his personal wealth to help shore it up.

Last year, Sir Philip prevented the collapse of his Arcadia group when creditors approved a restructuring plan.