BHS has been placed into liquidation following pressure from the Pension Protection Fund, which had argued that shutting down the retailer offered the best option for funding the retirement of former employees.
The PPF, a government-backed lifeboat for troubled pension schemes, is the companys biggest creditor and had rowed with BHSs joint administrator, Duff & Phelps, over the next steps for the failed business.
Duff & Phelps believed that remaining in administration where insolvency specialists take over the business could have boosted overall returns to creditors. But it lost the argument on Friday, as it was announced that FRP Advisory, the other joint administrator, had been put in sole charge of its liquidation.
In the s…
Read the full article at: https://www.theguardian.com/business/2016/dec/02/bhs-liquidation-pressure-biggest-creditor-ppf-philip-green-frank-field