Sir Philip Green 'may pay to keep knighthood'

'The social prestige of knighthood is worth millions to Sir Philip Green, he may pay out in order to keep it', says Awards Intelligence

Sir Philip Green (Getty)

Friday, October 21, 2016

Sir Philip Green may pay to cover the BHS pension deficit in an attempt to keep his knighthood, according to the founder of Awards Intelligence.

MPs have backed the call for the former owner of collapsed retailer BHS to be stripped of his knighthood. The motion was unopposed, so a full vote was not needed. However a final decision will need to be made by the Honours Forfeiture Committee.

Mark Llewellyn-Slade, whose body advises people on their eligibility for honours nominations, told Jonny Gould and Ash: "I think the social prestige for [Green] and importantly his wife of being Sir and Lady Green are worth a few hundred million to them. I think when you get to that level in terms of your net worth, you start wanting the things that money can't buy.

"I wouldn't be surprised if he now pays up [to cover the pension deficit], in the hope he avoids losing his knighthood," he revealed. "But there is however a potential issue here is that it could be seen as a form of cash for honours."

It is thought that the BHS pensions 'black hole' is worth around £570 million.

He also commented that Sir Philip Green publically sailing his yacht when the BHS was closing was was "tantamount to sticking two fingers up at the 11,000 staff."

A spokesman for Sir Philip Green declined to comment on Llewellyn-Slade's suggestions when contacted by talkRADIO.

Listen to the full interview to find out more