Sir Philip Green has apologised for the demise of BHS, saying “nothing is more sad than how this has ended”.
The billionaire, whose empire includes Top Shop and Dorothy Perkins, is giving evidence to MPs about the BHS collapse.
Sir Philip sold BHS last year for £1, but its collapse with the loss of up to 11,000 jobs has left a huge hole in the pension scheme.
BHS went into administration in late April. After no buyer could be found, administrators Duff and Phelps announced that BHS would be wound down, with the shops closed by the end of July.