Philip Green is the former owner of BHS (originally British Home Stores), he is described as the “Britain’s Donald Trump” on the cover of the renowned US magazine regarding the latest issue of a lengthy feature about the billionaire tycoon.
The article in the magazine's headlined “How Sir Philip Green made an outrageous fortune and outraged an entire nation”. It describes the collapse of BHS has caused in the UK and examines Green’s background, quoting supporters of the tycoon in the US but also critics such as Labor MP Frank Field.
The coverage of the scandal in the US is significant because Green has expanded Topshop into large American cities and the US private equity firm Leonard Green owns 25% of the chain.
BHS collapsed into administration in April, with the last of its 164 shops closing last month. The demise of the retailer led to 11,000 job losses and left a £571 million pension deficit.
Green sold the department store chain for £1 to serial bankrupt Dominic Chappell 13 months before it collapsed. The tycoon, his family, and other BHS investors collected more than £580 million from the company during the 15 years he ran it.
The magazine likens Green to Trump because of his “flowing white curly locks, perma-tan, and unshakable brashness”. William D Cohan, the award-winning journalist who wrote the article, claims that Green called him while he was writing it to say: “You’re on trial. Let’s see how well behaved you are.”
However, Philip Green claimed that was "wholly untrue" that he had tried to pressurize the regulator.
he also attacked statements made by MP Frank Field, calling them "untrue, totally inaccurate and unhelpful". Sir Philip said: "I would like to apologize sincerely to all the BHS people involved in this sorry affair."
Sir Philip Green denies he tried to 'blackmail' Pensions Regulator
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