Monday, August 22, 2016

I know nothing

The family home of Dominic Chappell, the former owner of BHS, was on the brink of being repossessed before cash from the department store chain was used to pay off the mortgage. The debt was settled when the parent company of BHS paid out £1.5m. The money came from BHS and was paid out as an interest-free loan. It has not been repaid.

The last of BHS’s 164 stores are scheduled to close before the end of month. The demise of BHS has led to the loss of 11,000 jobs and left a £571m pension deficit.

“I don’t know, it is nothing to do with me, it is my father’s property,” Chappell said when asked about the loan. “I have absolutely no idea what is going on there, nor do I want to know.” 

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