#BHSGate - Chickens Come Home To Roost

The Telegraph reports that Dominic Chappell, the former owner of BHS, will attempt to repair his battered reputation today after MPs damned him as the “most egregious example of individual greed”.

The former bankrupt has confirmed that he received a legal letter from Sir Philip Green, who has threatened Mr Chappell and three of his other Retail Acquisition directors with legal action following their disastrous deal.

Mr Chappell is flying back into the UK after consulting with his lawyers about the report. He said he would not be drawn on his views on a select committee report into BHS's collapse ahead of making a full statement on Wednesday.

Mr Chappell has admitted that he has made £2.6m from BHS.

#BHSGate - Green Demands Apology

As per economia libel lawyers acting for retail magnate Sir Philip Green have demanded an apology after MP Frank Field likened the retail tycoons conduct to that of former press baron Robert Maxwell.

In a letter seen by the Financial Times, law firm Schillings said that Field had wrongly alleged on the BBC's Today programme that Sir Philip had stolen money from the pension funds of companies he owned.

The law firm complained the comments were highly defamatory, completely false and likely to cause Sir Philip serious harm, and were not supported by anything in Fields parliamentary report into the collapse of BHS, published yesterday.

#BHSGate - Where's Sir Philip?

If I were Philip Green's PR advisor I think I might have advised him NOT to be on his £100m yacht on day BHS report published

— Ian Katz (@iankatz1000) July 25, 2016

#BHSGate - Sir Philip Green's Moral Duty

Sir Philip Green branded 'unacceptable face of capitalism' in MPs' scorching attack https://t.co/A4I2qYjz0E via @HuffPostUK

— Ann Driver (@ahddrv) July 25, 2016

How much is a Knighthood worth to Sir Philip?

#BHSGate

Witnesses appeared to harbour the misconception that they could be absolved from responsibility by blaming others. [168] #BHS

— Andrew Brooks (@taxbod) July 25, 2016

BHS Goes Into Liquidation

Following on from the demise and liquidation of Austin Reed, another bastion of the high street hit the bricks.

BHS is to be liquidated after its administrators Duff & Phelps failed to find a buyer, with the closure of 163 stores and the loss of 11,000 jobs.

Administrators Duff & Phelps confirmed that although multiple offers for the business were received, attempts at a rescue deal collapsed because of the working capital required to secure the future of the company.