Lord Myners – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Lord Myners on 2016-04-25.

To ask Her Majesty’s Government whether they will establish an inquiry into the circumstances surrounding BHS being placed in administration, and in particular in to the implications for employees, pension scheme members and creditors.

Baroness Neville-Rolfe

When a company enters administration, the administrators have to report to my right hon. Friend the Secretary of State for Business, Innovation and Skills within three months on the conduct of the directors.

In the case of BHS the Insolvency Service is making early contact with the administrators to discuss the directors’ conduct and to consider whether further steps, such as a detailed investigation, may be necessary.

Where misconduct is established it can lead to disqualification of a director for between 2 and 15 years.