Businessman to face charges following retailer’s collapse

Blog Insolvency Liquidation

The Pension Regulator has confirmed it will prosecute the former boss of failed High Street giant BHS.

Dominic Chappell is to be charged with failing to provide information and documents previously requested by the watchdog.

The businessman had bought the retail chain in 2015, having struck a deal with previous owner Sir Philip Green, which saw the business change hands for just £1.

Last year, BHS collapsed, leading to the loss of around 11,000 jobs nationwide. There was also a gaping hole in the company’s pension fund, which added up to more than £570million.

Mr Chappell’s own firm Retail Acquisitions went into liquidation itself earlier in the year.

Now he has been issued with a summons to attend Brighton Magistrates Court next month and face three charges of neglecting or refusing to provide information and documents, without a reasonable excuse.

Dave Gill, the national officer for shop workers’ union Usdaw, said: “It is frankly quite shocking that Mr Chappell has apparently not made the requested information available. We would expect all involved in the BHS scandal to co-operate fully with all investigations.

“Whilst the Pension Regulator has been successful in striking a deal with Sir Philip Green, the fact remains that the full buyout cost to secure 100 per cent of members’ benefits has not been met.

“There is still a lot of uncertainty for members and hopefully this will be addressed over the coming months when they receive more information about their options.”

A separate investigation into the BHS collapse, and Mr Chappell’s part in events, continues to be carried out by the Insolvency Service.

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