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Sir Philip Green renews war of words ahead of knighthood debate

Sir Philip Green has launched a fresh broadside against a leading critic ahead of a Commons debate on whether the retail tycoon should be stripped of his knighthood.

A letter from the businessman's family holding company, Taveta Investments, accuses Labour MP Frank Field of "highly defamatory and false statements" about him in a Channel 4 News (Other OTC: NWSAL - news) interview this week.

It is the latest in the war of words between Sir Philip and Mr Field, who co-led a select committee probe into the collapse of BHS earlier this year.

The MPs' report was sharply critical of the businessman - whose Arcadia retail empire includes well-known brands such as Dorothy Perkins, Topshop and Burton.

Sir Philip was criticised for taking money out of the business, selling it to former bankrupt Dominic Chappell, and leaving it with a £571m pension deficit.

But earlier this week, Taveta published a review by two QCs that described the MPs (BSE: MPSLTD.BO - news) ' conclusions as "bizarre" and "unsupportable".

It labelled the inquiry as a "kangaroo court".

The latest letter takes Mr Field to task over a claim that Sir Philip is "running the Arcadia group into the ground like BHS".

It says: "The allegations you are making are false and your behaviour unacceptable.

"Arcadia has 22,000 employees who do not deserve to be treated in this manner."

Sir Philip said in an ITV News interview this week that he was "very, very, very sorry" for the collapse of BHS.

The demise of the retailer earlier this year saw 11,000 workers lose their jobs, while 20,000 BHS pension scheme members face uncertainty about future payments.

Sir Philip has said he is working on a plan to "sort" the pensions deficit.

But the Pensions Regulator said it had "yet to receive a comprehensive written proposal" about a settlement.

Sir Philip refused to discuss his handling of the saga when confronted by Sky News while staying on his super yacht in the Greek islands in the summer.

MPs are due to debate whether the billionaire should lose his knighthood - awarded in 2006 for services to retail - in the Commons on Thursday.

Any vote is non-binding, with the formal Honours Forfeiture Committee getting the final say