SHOULD Sir Philip Green be stripped of his knighthood?

The retail tycoon was the principal character in the collapse of BHS and “worse than Robert Maxwell” according to the MP leading the investigation into the retailer’s demise.

Laying the blame squarely at Sir Philip’s feet, Frank Field says he was the “unacceptable face of capitalism”, plundered BHS, and must now pay out at least £571m to fund the pensions hole left behind.

The MP’s comments followed the publication of a damning report into the collapse of the department store chain which says the billionaire enriched his family for more than a decade through a series of shady property deals, awarding himself fat dividend cheques and starving the retailer of investment.

It comes days after it was revealed Sir Philip’s knighthood is being kept under review.

Sir Philip received the honour for his services to retail in 2006, during Tony Blair’s premiership.

The knighthood debate is a sideshow, however, and MPs should be more concerned with fighting for the rights of BHS staff.

Shops started closing down at the weekend and 11,000 workers will ultimately be out of a job while 20,000 pensioners are still waiting for Sir Philip to make good on a promise to sort the pension mess. That was said five weeks ago they are still waiting for action.

Earlier this month, Prime Minister Theresa May pledged to make the economy work for everyone by getting tough on irresponsible behaviour in big business.

Stripping dodgy bosses of their honours is one thing but the PM must ensure Sir Philip is held to account to fulfil what he promised, beef up corporate governance for large, private companies and tighten the rules regarding the sale of firms with large pension deficits.

It is time to reform capitalism.