Retail Acquisitions, the former owner of the collapsed BHS, is on the point of liquidation, potentially helping investigations into the demise of the department store chain.
The group, which bought BHS for £1 in 2015 and was fronted by former bankrupt Dominic Chappell, has been accused of extracting an estimated £17m from BHS despite owning it for just 13 months before it went into administration in 2016. An estimated £6m was owed by Retail Acquisitions to BHS when it collapsed.
The failure of BHS led to the loss of 11,000 jobs and left a £571m pension deficit. A high-profile parliamentary investigation into its demise concluded that the company had been systematically plundered by its owners and accused Chappell of having his finger…
Read the full article at: https://www.theguardian.com/business/2017/may/04/retail-acquisitions-bhs-liquidation-dominic-chappell