British MPs call billionaire Philip Green’s actions for “capitalism unacceptable face” in a report on the venerable department store chain Bhs collapse in which 11,000 people lost their jobs.
Green urged to immediately address the deficiencies of a pension fund for 20,000 former employees. He “owes BHS pensioners to find a solution immediately. He will have to make a large financial contribution. He has a moral obligation to act, “the statement said.
The 88-year-old department store chain had 163 stores and 74 franchises in 18 countries. When the company collapsed last month it had debts of almost 15 billion and a deficit in the pension fund.
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