Tuesday, 22 August 2017

Dominic Chappell to be prosecuted by Pensions Regulator over BHS collapse

The Pensions Regulator is to prosecute Dominic Chappell, the former boss of retail chain BHS.

He is charged with failing to provide information and documents the regulator requested during its investigation into the sale of BHS.

Chappell's Retail Acquisitions (RAL) bought BHS for just £1 in 2015 from billionaire retailer Sir Philip Green.

The collapse of BHS led to the loss of 11,000 jobs and a pension deficit of £571m.

RAL was put into liquidation earlier this year.
Mr Chappell has been summonsed to appear at Brighton Magistrates' Court on 20 September to face three charges of neglecting or refusing to provide information and documents, without a reasonable excuse.

Warning notices were sent out to Sir Philip and Mr Chappell in November last year, setting out the arguments and evidence as to why the regulator believed they should support the BHS pension schemes.

In February, Sir Philip Green agreed in a settlement with the Pensions Regulator to hand over £363m in cash to the BHS pension scheme.

The investigation into Dominic Chappell is continuing.

BBC      News.