Sunday, 19 June 2016

Philip Green Feels BHS Workers Pain

Philip Green is not the most popular man at the moment, especially amongst the 11,000 BHS staff who are facing redundancy thanks to the £571m hole he left in the BHS pension fund which has forced the shop into bankruptcy.
To recap, in 2005 BHS owner Green paid himself a dividend of £1.3bn, mainly financed by increasing BHS debts to £1bn which has now sucked the retailer under and left 11,000 workers out of a job as the shops close with a £581 million hole in pensions which means workers will not receive the full pension they paid into.
A feisty Philip Green has been hauled before MP's to explain his decisions which led to BHS going to the wall where he told MPs he was working on a solution that would help BHS workers although no details were given.
So just to cheer up the BHS staff as they trot along to the unemployment office, the man responsible for their current jobless status has just taken delivery of a new private jet, adding a £46m Gulfstream G650ER to a transport collection that includes a speedboat, a helicopter and three yachts.
There, don't you feel better now. 

No comments: