BHS news and archive

Former BHS bosses to pay 110 million pounds to creditors

Dominic Chappell, the former CEO of collapsed BHS, and his colleague at the time Lennart Henningson have been ordered to pay 110 million pounds to creditors after they were found to have breached their corporate duties. The ruling comes eight years after BHS fell into administration, when it was said that the company owed creditors more than one...

BusinessFeatured

New audit rules could prevent companies like BHS and Arcadia Group from administration

After several high profile company collapses - from BHS to Arcadia to Debenhams - new audit reforms and corporate governance is meant to avoid company failures and safeguard British jobs in the future. The proposed reforms would break up the dominance of the “big four” audit firms and strengthen the UK’s position as a world-class destination for...

People

Former BHS owner jailed for tax evasion

Dominic Chappell, the former owner of UK high street stalwart BHS, has been jailed for 6 years for tax evasion. BHS collapsed in 2016 just a year after former owner and current Arcadia boss Sir Philip Green offloaded the company in a controversial one pound deal to Chappell’s City investor Retail Acquisitions. The collapse resulted in the loss...

Retail

A quarter of BHS stores still vacant four year after collapse

Four years after the collapse of former UK high street stalwart BHS, a quarter of its stores remain vacant, according to new research. In 2015, former owner Sir Philip Green offloaded the BHS retail group for just one pound to City investor Retail Acquisitions. BHS collapsed into administration the following year. Today, just under half of the...

Retail

Sir Philip Green sells BHS headquarters for 44 million pounds

Sir Philip Green has sold the former BHS head office in London for 44 million pounds to investment group Aprirose. The sale comes nearly four years after Green offloaded the BHS retail group for just one pound. The building was reportedly under Arcadia ownership since 2016. The former headquarters were situated in Marylebone House in central...

Retail

New evidence could see BHS directors investigated

There has been little news coverage concerning BHS ever since Sir Philip Green was forced to pay 363 million pounds into its pension fund in 2017. To refresh any reader's memory, less than a year before the troubled department store collapsed, Green sold the business for 1 pound to Dominic Chappell, a formerly bankrupt businessman with no...

Business

Former BHS owner convicted in pension case

London - Dominic Chappell, the former owner of fallen high street chain BHS, has been found guilty of failing to provide sufficient information to the Pensions Regulator. Chappell has been charged with neglecting to respond to three section 72 notices which demanded he provide vital documents linked to his purchase of the company after a trial...

Retail

Sixty percent of former BHS stores remain vacant

British Home Stores (BHS), the former Arcadia owned department store closed its 160 remaining stores last August when the company collapsed into administration. 16 months later, 60 percent of those stores are still unoccupied. Of the 64 stores that have been occupied, most are situated in key cities London, Manchester, Leeds, Bristol as well as...

Business|UPDATE

Sir Philip Green accused of selling BHS to avoid liability in pension scheme

London - Sir Philip Green sold off BHS to avoid pension liability should the high street retailer collapse, according to the new report published by the Pension Regulator into the matter. Sir Philip Green previously sold BHS for 1 pound to Retail Acquisitions in March 2015, before it collapsed in April 2016 with a pension deficit of 571 million...

Business

Phillip Green's fashion emporium resents from 16 percent profit loss in 2016

Profits have fallen at Sir Philip Green’s fashion emporium. Concisely, Topshop’s owner’s holding company is still resenting from the collapse of BHS, having noted a 16 percent decrease in annual profits for 2016. Taveta Investments, a holding which includes the billionaire’s Topshop, Dorothy Perkins and Miss Selfridge brands, is expected to...

Business

Retail Acquisitions on the brink of liquidation

London - Retail Acquisitions, the former owner of collapsed high street retailer BHS, is said to be on the brink of liquidation. Owned by former bankrupt entrepreneur Dominic Chappell, Retail Acquisitions first made headlines back in March 2015, when Chappell purchased BHS from Sir Philip Green Arcadia Group for 1 pound. Following the demise of...

Business

Green's peace offer: up to 50 million pounds a year into Arcadia's pension fund

Sir Philip Green’s offer has been understood in the industry as a “peace offering” aimed to put an end to months of bitter internal disputes in his fashion empire. The fashion mogul has agreed to invest as much as 50 million pounds per year into the Arcadia’s pension fund. Following the deal, Arcadia – which owns Topshop, Dorothy Perkins and...