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A damning MPs' report found Sir Philip, the billionaire former owner of BHS, extracted large sums and left the business on "life support". Iain Wright is the BIS Select Committee chair and said Green's failure to resolve BHS's £571m pension deficit was a major factor in the firm's demise. Sir Philip vowed to MPs last month that he would sort out the pensions "mess". Wright said "Philip Green got his knighthood for services to retail, I think we conclusively show in our report that he's not very good at retail […] in that respect I think his reputation is in tatters." He added "Someone who works in BHS who faces imminent loss of their job will see Philip Green sunning himself on his third yacht and think, what on earth has gone wrong?" This clip is originally from 5 live Breakfast on Monday 25 July 2016.