The spat between billionaire Topshop owner Sir Philip Green and Frank Field, the MP who chairs the Commons Work and Pensions Committee, shows no sign of abating.

They have engaged in a war of words following reports – strongly denied – in the Sunday Times that Sir Philip was trying to sell his retail empire to China’s Shandong Ruyi.

Field has been investigating the collapse of the Bhs department store chain and the black hole in its pension fund.

Bhs was sold by Sir Philip’s Arcadia Group – which includes Miss Selfridge and Dorothy Perkins – for a nominal £1 in 2015 to Retail Acquisitions, run by former bankrupt Dominic Chappell.

Field now says he has asked the Pensions Regulator to play a role in supervising a possible sale of Sir Philip’s remaining businesses.

In the context of the demise of Bhs and recent collapse of Carillion- and the implications for their pension funds- there is considerable pressure on the Pension Regulator and scheme trustees to be vigilant where a potential threat to a pension fund is identified.