Sir Philip Green was trashed in Parliament yesterday. What did we learn from the process?

In terms of the criticism he received, not much, some might say.

As has been noted, the man once dubbed the ‘King of Retail’ clearly does not have many friends in the House of Commons – at least none that are prepared to defend him in public.

The criticism from MPs at times was quite brutal. Arguably the most stinging criticism came from Iain Wright MP, who co-chaired the parliamentary inquiry into BHS

“He (Green) took the rings from BHS’s fingers, beat it black and blue, starved it of food and water, put it on life support – and then wanted credit for keeping it alive,” said Wright. 

Philip Green – as he could soon be known – might be wondering how it has come to this.

Where he was once the darling of the Government – having been given his knighthood under Tony Blair – he is now having to face national newspapers headlines such as ‘Sir Spiv’.

Where it all went wrong for BHS and who should shoulder the blame will continue to be debated.

The fact Green sold BHS with a whopping pension deficit to a multiple-bankrupt former racing driving for £1 does not look good. There is also of course still an Insolvency Service probe to conclude.

Great leaders are great listeners

But one lesson retail leaders might take from this whole episode is a key one – great leaders are great listeners. Taking advice from trusted lieutenants is vital, and makes sure your ego stays in check.

Like his fellow bête noire of retail, Mike Ashley, there is a sense – and I might be wrong – that Green left it too late in taking proper advice on his predicament.

Why it took him until just days before the debate in Parliament to issue a serious rebuttal of July’s damning MPs report is baffling.

And likewise the timing of a face-saving interview with ITV News’s Robert Peston failed to convince any doubters.

Surely if he had brought in or listened to serious PR advisers earlier, some of this could have been avoided. The same could be said of Ashley.

But Green knows the one way he could conceivably salvage some of his reputation is by making a substantial contribution to the BHS pension fund.

Those affected will be hoping yesterday’s battering in Parliament will not have the opposite effect, but will instead convince the Topshop tycoon it is time to strike a deal with the Pensions Regulator.