It has been reported that Sir Philip Green could still be making money from BHS as staff and onlookers are hoping a strong buyer comes through.

After Sir Philip sold the company for £1 in 2015 an investigation was launched regarding a £571 million pension deficit at the business. Mr Green has since offered £80 milllion to ease the deficit, however £35 million of that is an offer to write off a loan Mr Green had made to BHS in 2009.

When the company was sold, £216 million of the loan was written off and what was left became a floating charge against the company’s assets. If BHS is sold, Mr Green is permitted to have his money repaid as the loan remains which makes Mr Green a main creditor for BHS.

With the company in administration, the pension deficit could see savers losing 10% from their retirement payments, if the Government Pension Protection Fund has to save them.

Head of the commons work and pensions committee, Frank Field MP, said: “Morally, the pension fund should be at the front of the queue.”