Sir Philip takes delivery of Yacht while BHS 11,000 Workers take delivery of their redundancy notices. #businessnews #capitalism
The high street chain, which had run up huge losses in recent years, went into administration in April – a year after Sir Philip sold it for just £1 – putting 11,000 jobs at risk. Its pension scheme, which has 20,000 members, has a £571million black hole.
Sir Philip Green and others who “got rich” from BHS have been blamed for the retailer’s collapse in what MPs called the “unacceptable face of capitalism”.
A damning MPs’ report found Sir Philip, the billionaire former owner of BHS, extracted large sums and left the business on “life support”.
Lady Green, who was wearing blue plastic shoe covers to protect the 295ft yacht’s decks, basked in the Tuscan sun on board the vessel on June 23rd at the Italian port of Livorno.
Lionheart is four storeys high and the length of a football pitch. It is said to boast a hot tub, swimming pool, helipad, three lifts, a beauty salon, a barbecue and a fleet of jet-skis. It can sleep 12 guests and 28 crew.
The Greens already have two superyachts, the 109ft Lionchase and the 200ft £100million Lioness V, on which they often entertain A-list guests such as Kate Moss. Sir Philip is also understood to have recently taken delivery of a new private jet costing around £46million.
Lionheart was meant to make its maiden voyage from Livorno to Malta more than a month ago. Sources suggest the delay was because the couple did not want to be seen unveiling a new superyacht just as they came under fire over BHS. It is expected it will depart soon and will be registered in Malta, as their other yachts are.
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