U.K. Insolvency Service to Investigate Management of BHS
- Probe will look at behavior of directors at store chain
- Service can refer evidence of wrongdoing to prosecutors
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U.K. Business Secretary Sajid Javid ordered the Insolvency Service to investigate the behavior of the directors of BHS Ltd. before the store chain went into administration last month.
Asked in Parliament in London Tuesday by his Labour Party opposite number, Angela Eagle, about how the company had been run, Javid replied: “I share some of those concerns.” He continued: “I have written to the chief executive of the Insolvency Service. I have instructed her immediately to commence an investigation; she has agreed to do so.”