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Sir Philip Green threatens to sue Frank Field
Scathing critique of Sir Philip Green in 66-page report by MPs
Renewed calls for Green's knighthood to be stripped
MPs urge Green to fill £571m hole in BHS pension fund
What do you think about the MPs' report into the collapse of BHS? Should Sir Philip Green be stripped of his knighthood? And how can such a situation be prevented in the future?
Send us your thoughts at bizlivepage@bbc.co.uk
In one of the most damning paragraphs of the report, MPs criticise the Topshop owner's business acumen:
Quote MessageSir Philip Green’s family accrued incredible wealth during the early, profitable years of BHS ownership. Over the duration of their tenure, significantly more money left the company than was invested in it. There is no evidence of improved turnover, market share, or major increase in investment that might be expected from a leading retailer. Investment was evidently either inadequate in scale or ineffective in improving the competitive edge of the business. This sustained poor retail performance forms the backdrop to Sir Philip’s efforts to sell the business."
Should you want to read the all 66 condemnatory pages of the BHS report, it is available here (pdf), external.
Today Programme
BBC Radio 4
Image source, Getty ImagesAllyson Stewart-Allen, managing director of the consultancy International Marketing Partners, tells Today that the BHS collapse - along with other revelations about a "litany of companies" including Mike Ashley's Sports Direct - has led to public perception of business falling to "an all-time low".
She says this is damaging many companies that try to attract the best talent.
Shoppers may also be put off, but Ms Stewart-Allen does not think the average consumer knows that Sir Philip is behind the Topshop brand. However, social media outrage could change that.
BBC Radio 5 Live
Image source, Getty ImagesMore from Steve Webb of Royal London, who tells Wake Up to Money that the Pensions Regulator didn't have the legal right to be told about the sale of BHS before it took place - let alone the power to block it.
While it should not have to sign on on every corporate deal, Mr Webb says: "Where it's a big enterprise with a big [pensions] deficit, there do need to be more checks and balances, whether it's the regulator or the pension fund trustees. That's the obvious area area where the current legal framework needs another look."
Today Programme
BBC Radio 4
Today business presenter Dominic O'Connell says he "cannot remember a select committee report that is more scathing of a particular individual".
Independent pensions analyst John Ralfe - who was an adviser to the select committee inquiry - tells Today says that the "longer it goes on, the less likely there is a magic solution".
He adds that the total fallout amounts to £571m - which is a considerable sum of money even for a billionaire like Sir Philip.
The report into the BHS collapse is the splash in most newspapers today, with the Times saying that Sir Philip's "greed" lead to the downfall of the retailer.
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The Mirror also puts the boot in, saying that the retail tycoon should pay almost £600m to plug the hole in the BHS pension fund - or lose his knighthood.
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BBC Radio 5 Live
Like 5 live presenter Adam Parsons, Eric Musgrave - former editor of fashion industry bible Draper's - has also read the MPs' 66-page report into the collapse of BHS. He calls it a "remarkable document" that tells an "unedifying story for everyone concerned".
Steve Webb, the former pensions minister now with Royal London, tells Wake Up to Money that Dominic Chappell, who bought the department store chain from Sir Philip Green for £1 last year, was not the right person to take on running a business like BHS.
MPs describe Mr Chappell as "manifestly unsuitable".
Chris Johnston
Business reporter
Welcome to another week of Business Live with myself and Joe Miller. We'll be focusing on reaction to the damning report from MPs into the collapse of retailer BHS, with particular blame being laid on Sir Philip Green.