Retail round-up on May 5, 2016: MPs offer to cooperate with investigation over BHS collapse, and Asda ruled to have misled customers with promotional deal.

MPs investigating BHS collapse offer to cooperate with inquiry

MPs that are probing the collapse of high street chain BHS have offered to cooperate with the investigators – the Serious Fraud Office and Insolvency Service – The Guardian reported.

Frank Field, chairman of the work and pensions committee, told SFO boss David Green that MPs wanted to “shed light on what has happened to BHS and identify any regulatory, supervisory or legislative deficiencies” with regard to pensions.

He asked the SFO to advise if there were any concerns about MPs’ activity and if they might hinder “any future criminal prosecutions”.

Field also wrote to the insolvency regulator asking to be advised if its chief executive, Sarah Albon, had any concerns about the work and pensions committee’s investigation.

Asda accused of confusing shoppers with misleading promotion

Walmart-owned Asda has been accused by the advertising watchdog of confusing shoppers with a misleading promotion on Choco Squares cereal.

The regulator has warned the grocer to ensure that its future promotions do not mislead customers on savings they could achieve.