Former BHS boss Sir Philip Green’s knighthood is currently “under review” in wake of the the companies collapse.
Labour MP Jim McMahon recieved a letter from a Cabinet Office official confirming that it was under consideration.
The spokesman for Sir Philip Green has not made a comment, however he did say “We will await the report of the [Commons] Work and Pensions Committee on Monday.”
Mr McMahon among other MPs, wrote to the Honours Forfeiture Committee calling for Sir Philip to be stripped of his knighthood amid criticism after he had sold retail company BHS to Dominic Chappell, a former bankrupt with no retail experience.
Sir Philip Green had bought BHS for £200m back in 2000.
He has come under scrutiny for that sale, along with the £400m in dividends taken from firm during his 15-year ownership and his management of the pension scheme, which left £571m deficit during its collapse.
A Cabinet Office spokesman said: “Applications for forfeiture are considered by an independent committee.
“They have been clear that they will not consider reviewing an honour until any formal reviews or investigations which establish the facts of a case have been completed. However, we continue to keep the case under review.”