Corporate Governance Review Urged After BHS

The renewed scrutiny of directors’ responsibilities comes after the demise of the 88-year-old retailer was attributed to the “culmination of a sorry litany of failures of corporate governance and greed” in a scathing report by MPs last week. Theresa May has said Sir Philip Green was “reckless” and has pledged to crack down on irresponsible corporate behaviour. While Sir Philip was blamed by a Commons committee as “ultimately responsible” for BHS’s collapse, the weak governance within Arcadia has also exposed private company loopholes.