The former owner of BHS has claimed he was “stitched up” by the collapsed high street chain store’s former owner Philip Green.
Dominic Chappell bought BHS for £1 in 2015 from Philip Green who had owned it for 15 years.
He told ITV News he accepted some of the responsibility for the company’s failure but he had also trusted “knight of the realm” Green, who he said had not kept his word.
Mr Chappell said: “What we did wrong is we trusted a knight of the realm Sir Philip Green to stand good on his word.
“We were stitched up, this was a company in far worse shape than we thought, Philip did not stand good promises.
“He told us he would sort out the Pension Regulator, he did not. He told us he’d sort out the suppliers, he did not.
“The company failed because of those two issues, end of story.”
Speaking about the company’s failure, Mr Chappell said: “Yes I must take responsibility for that but there are other people in the fray as well and they must take some responsibility as well.”
He said he had earned £1m from BHS but insisted his conscience was “very clear”.