Sir Philip Green faces being stripped of his knighthood following the collapse of BHS, which he sold last year for £1 Press AssociationMPs will vote next Thursday on moves to strip Sir Philip Green of his knighthood after the collapse of BHS. It is believed to be the first time that MPs have ever debated a motion on whether to annul an honour. The entrepreneur was censured by two Commons committees investigating the fall of the retail chain he owned until last year and from which his family took more than £300 million in dividends. Sir Philip, worth an estimated £3 billion, sold BHS to Dominic Chappell, who had twice been declared bankrupt and had no retail expertise, for £1.

Source: The Times October 13, 2016 23:02 UTC