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UK pension watchdog targets Sir Philip Green

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World

UK pension watchdog targets Sir Philip Green

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COMING UP:UK pension watchdog targets Sir Philip Green

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00:00:00
>> Britain's Pensions Regulator taking aim at Sir Philip Green, after failing to reach a deal to plug BHS' 571 million pound pension deficit. The Watchdog kicking off enforcement action, saying the billionaire has failed to provide a credible offer. Green owned BHS for 15 years before selling the loss making chain for a pound last year.
00:00:22
The group went into administration in April, some 11,000 people losing their jobs. The retail tycoon says he's made a decent offer, and that he's got the support of the BHS pension trustees chairman. But it's not enough to satisfy the regulator, it has now sent out a warning notice to lay out its case, and start proceedings to force him to pay up.