UK parliamentarians have criticised as wholly inadequate attempts by the former owner of retailer BHS to address the companys pension deficit and called for significant contributions to address the schemes underfunding.
Philip Green was the focus of the parliamentary investigation into the retailers insolvency earlier this year, which followed Greens sale of BHS to Retail Acquisitions Limited (RAL) in 2015.
In publishing its findings, the joint work and pensions, and business, innovations and skills committee criticised that Green failed to invest in BHS during his 14 years of ownership, and said his tenure left its schemes weakened to the point of the inevitable collapse of both.
The companys staff and executive scheme have begun Pension P…
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