09 June 2016

Hooks, crooks and comic singers

These are not very nice people.  The Guardian reports:
Dominic Chappell, the former owner of BHS, had his “fingers in the till” of the failed retailer and “threatened to kill” its chief executive after he was confronted about taking money out of the business, according to explosive allegations made to MPs.
Other allegations from the hearing into the collapse of BHS, which has put 11,000 jobs at risk, included:
  • Chappell claiming that retail tycoon Sir Philip Green, who sold the business to him, was to blame for its collapse. 
  • that Green went “insane” when he found out that BHS was in talks with Mike Ashley’s Sports Direct about a rescue deal, so he blocked it and forced BHS into administration.
  • Chappell’s consortium, Retail Acquisitions, collected at least £17m from BHS despite owning it for just 13 months.
  • the consortium put none of its own funds into BHS, instead the £15m it injected into BHS came from a £5m loan from a property company and £10m from Green.
Chappell later claimed allegations by Topp of a death threat were “a nonsense”. After the hearing, he told the Guardian: “What I said to him was ‘when I get back to the office I will fucking sort you out’.” Chappell said he meant he was going to fire Topp but let it go because of the “gravity of what was going on”.


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