Sir Philip Green is believed to have been asked to contribute to the cost of rescuing ailing BHS’s pension scheme, according to reports.
The department store chain, now owned by investment group Retail Acquisitions, is believed to have a pension deficit of more than £200m.
BHS last week revealed details of a major overhaul, including plans to cut 370 jobs across its head office and stores and strike a CVA with landlords to reduce rents.
Green is understood to have offered about £80m to ease the pension scheme’s deficit after a request from the PPF, according to The Sunday Times. However, reports suggest no firm proposal has been put forward.
Malcolm Weir, head of restructuring and insolvency at the PPF, told the FT: “The pension protection fund is in discussions with BHS with other interested parties regarding the pension schemes. These discussions are ongoing and no decision has been made.”