Much of the Green family’s enormous wealth was built up during the early years of Green’s stewardship of BHS.
Umm, Tina had substantial funds already. And it was Arcadia, not BHS, that provided the really big money. It’s true that BHS and Arcadia were contemporaneous but that is a very politician’s phrasing, isn’t it?
And yet there is no evidence whatsoever from this period of the improved turnover, market share, or major increase in investment that might be expected from a leading retailer.
You don’t know how business works, do you Frank?
The decay which set in at individual BHS branches mirrors that of its pension fund – it was allowed to decline from a surplus of £43m in 2000, when Green bought the business, to a £571m deficit last year. Companies that are suppliers to BHS are now also under threat. So the picture that was presented to us in evidence was clear – the Green family’s wealth escalated beyond the dreams of avarice, while the health of BHS and its pension fund was neglected.
And of course low interest rates had nothing to do with that, did it?