Retail round-up on June 13, 2016: Walmart poised to name Asda's upcoming chief executive and Mike Ashley interested in taking over 80 BHS stores.
Sir Philip Green demands MP Frank Field’s immediate resignation from BHS inquiry
Arcadia tycoon Sir Philip Green has demanded the resignation of Labour MP Frank Field, who chairs the Work and Pensions Committee, from the BHS inquiry.
Green claimed Field’s parliamentary investigation into the collapse of the department store chain was biased and suggested he would not appear before MPs to give evidence unless Field stepped down.
“I am not prepared to participate in a process which has not even the pretence of fairness and objectivity and which has as its primary objective the destruction of my reputation,” Green wrote in a letter to Field.
“I therefore require you to resign immediately from this inquiry.”
Meanwhile, shadow chancellor John McDonnell has joined calls for Green to be stripped of his knighthood if he refuses to be grilled by MPs this week on Wednesday.
Sports Direct’s Mike Ashley makes last-ditch attempts to buy 80 BHS stores
Sports Direct tycoon Mike Ashley is interested in acquiring as many as 80 BHS stores even as its administrator Duff & Phelps looks to wind down the high street chain, BBC reported.
In his letter to the administrator, Ashley said he was keen to save the BHS brand as well as a number of jobs with the retailer.
"We can confirm that we have a continued interest in BHS," said a Sports Direct spokesman.
"We have written to the administrator seeking to re-open a dialogue about saving a number of jobs and stores along with the BHS name."
The administrator confirmed it had received the letter but made no further comment.
Goldman’s senior executive turns down request to appear before MPs over BHS demise
Goldman Sachs’ most senior executive Michael Sherwood has rejected calls to appear in front of MPs probing the BHS demise, saying he would provide written evidence to their inquiry instead.
Sherwood has been invited to explain the role of the Wall Street bank in advising Arcadia tycoon Sir Philip Green on his sale of the collapsed retailer for £1 to the three times bankrupt Dominic Chappell.
MPs also want to hear again from Anthony Gutman, co-head of European investment banking, and from Michael Casey, another senior Goldman banker.
They have also offered to provide written evidence to the inquiry but are resisting attempts to face MPs in public.
Walmart could parachute China boss as Asda’s next chief executive
Walmart is set to appoint its China chief executive Sean Clarke as Asda’s next boss, Sky News reported.
This would mean he would take over from the grocer’s current chief executive Andy Clarke.
The timing of the change is unclear, although sources indicated that the US retailer could make an announcement as soon as this week.