Mann MP: 'Sir Philip Green must repay BHS dividends or lose knighthood'

When Sir Philip Green bought BHS in 2000, the pension fund was in surplus and, despite making only £87 million in profits during his tenure as owner, he took £400 million out of the company in special dividends.

The pension fund is now projected to have a deficit of £571 million.

Mr Mann said: “Sir Philip Green and his family have made millions out of BHS and its hard working staff. He took over a company with a healthy pension pot, yet when he sold BHS a black hole had appeared in its fund.”

“He has taken over £400 million out of the company and now must be held responsible for the actions that were taken under his stewardship.”

“There is a very simple and honourable solution to this crisis- repay the dividends, live up to the name he has chosen for his new yacht, ‘Lionheart’- or lose his knighthood.”