Leadership Failures and Personal Greed Led to Collapse of BHS

MPs catalogue litany of failures culminating in ‘at any cost’ disposal of company and pension deficit to wholly unsuitable “chancer”. In their report on BHS, the Work and Pensions and Business, Innovations and Skills Committees conclude that Sir Philip chose to rush through the offloading of a beleaguered high street institution, losing money and encumbered with a massive pension fund deficit, to a buyer who he was clearly aware was “manifestly unsuitable”, with Sir Philip forced to finance the sale himself.