The controversial industrialist Sir Philip Green sold the BHS business to dodge responsibility for its insolvent pension schemes if the firm should go bust, mentions the Pensions Regulator.
The claim is made by the regulator in its report on sales of BHS in 2015 and its breakdown a year later.
In February, Sir Philip ultimately concurred, after months of pressure, to pay 363 m into the BHS pension schemes.
A spokesman for Sir Philip saying : “the matter is now closed”.
However the report devotes, for the first time, some details of the admonishing notice that the regulator dedicated to Sir Philip in November last year as negotiations over resolving the BHS pension scheme deficiencies dragged on.