Labour MP Frank Field, chairman of the Work & Pensions select committee, is going to demand answers from Sir Philip Green regarding the future of Arcadia pension scheme members.
Following reports a potential sale of the company to a Chinese conglomerate, Mr Field confirmed to FTAdviser that he will be writing to Sir Philip regarding this matter.
The goal is to understand the deficit level of the company's pension scheme, and if more funding is needed before selling Arcadia.
Both men have clashed in the past over the failure of BHS, with Sir Philip accusing Mr Field of making a personal attack and using him as "political football".
BHS went into administration in April 2016, putting workers' retirement nest eggs at risk and The Pensions Regulator has been investigating the case since.
In the end, a £363m settlement with Sir Philip was reached to fund a new independent pension scheme for 19,000 former BHS workers.
The new scheme would pay members the same starting pension that they were originally promised by BHS, with greater ongoing benefits than they would have received from the Pension Protection Fund.
According to reports, Sir Philip is considering selling Arcadia, which comprises brands such as Topshop, Evans and Dorothy Perkins, to Shandong Ruyi.
The Chinese textile manufacturer is already established on the UK high street, as it owns British clothing brand Aquascutum and has a 51 per cent stake in Trinity Listed, owner of Savile Row tailor Gieves & Hawkes.
maria.espadinha@ft.com
