DUE to glaring loopholes in what passes for company law in the UK, BHS, a household name in retail, and an old established company has been asset stripped and bankrupted, with its employees thrown out of work.
Even worse for those relying on the company pension scheme, the company pension pot has been lumbered with a £537 million deficit.
Sir Philip Green, knighted for services to himself, and the man mainly responsible for the demise of BHS, has taken delivery of a brand new £100m super yacht and secured a position at the front of the queue as a secured creditor to extract even more money from the financial carcass of BHS.
Not to mince words, extracting money from the pension pots of employees is no better than theft in my opinion and should be treated as such. Our legal system seems able to convict starving men for stealing food, while corporate vultures such as Green act with impunity.
VJ Connor, Bishop Auckland
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