Former BHS group owner, Sir Philip Green, has agreed to appear before two groups of MPs following the chain being placed into administration.

The retailer, which sells lingerie as a significant part of its offering, collapsed last week with a pension deficit of £571m, putting 11,000 jobs at risk.

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Topshop boss Green could be grilled over his decision to sell BHS for £1 last year and the £400m taken out in dividends over 4 years.

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The parliamentary hearing, as part of a joint inquiry between the Work and Pensions Committee and the Business, Innovations and Skills Committee, is expected to take place mid-June.

It comes as the Government ordered the Insolvency Service to fast-track an investigation into BHS’ collapse.

Business secretary Sajid Javid told the Commons: “There’s two select committees looking into it already and we all understand that there’s been considerable concern expressed in Parliament. I share some of those concerns.

“I can inform you that I have written today to the chief executive of the Insolvency Service and I’ve instructed her to immediately commence an investigation. She has agreed to do so.”