Whitehall chiefs could strip shamed ex-BHS boss Sir Philip Green of his knighthood

OFFICIALS are probing whether to strip shamed former BHS boss Sir Philip Green of his knighthood, it emerged today.

The Cabinet Office said it has agreed to MPs’ demands to look at the Topshop tycoon’s state honour after the collapse of the high street giant.

The billionaire was slammed for taking large sums out of the company before flogging it to a three-time bankrupt for just £1.

Labour MP Jim McMahon demanded Sir Philip face justice for his role in the chain’s collapse a year later, putting 11,000 jobs in jeopardy.

A senior official wrote to Mr McMahon today to spell out the process for removing an honour, adding: “I hope you will understand that I cannot comment on the particular circumstances of Sir Philip, but I can assure you that the case is being reviewed”.

Civil servants will produce a recommendation before the Honours Forfeiture Committee considers the case.

The Prime Minister and the Queen would then be asked to rubber-stamp the final decision.

The revelation comes ahead of a major report next week by the Commons Business and Work and Pensions Committees into BHS’s collapse which is also expected to savage Green.

Mr McMahon said: “There are a lot of unanswered questions about Philip Green’s judgement.

“He was given his knighthood for services to retail, and if it turns out he acted to undermine BHS, that would undermine the honour.

“The question is: if he was nominated for an honour today, would it be approved?

“I believe the answer is ‘’no’’.”

Green is facing demands to step in to help plug BHS’s £571m pensions black hole, which threatens the retirement of 20,000 of its former workers.

But Sir Philip has tried to fight back, telling MPs last week that he ploughed more than £400m of investment into BHS.

He also insisted that he pushed for a “sustainable solution” for the firm’s troubled pension scheme.