Sports Direct’s Mike Ashley steps in for eleventh hour BHS chats June 12, 2016 Sports Direct's Mike Ashley is trying to reopen talks to save BHS from liquidation. A source told City A.M. that Ashley had written to the administrators in a bid to reopen a dialogue in a move that could save a number of stores along with the BHS name. City A.M. also understands that the administrators will be [...]
MPs have called Mike Ashley to give evidence to the joint select committee on BHS June 9, 2016 It seems MPs just can't get enough of Mike Ashley; the retail tycoon is now being called to give evidence in front of the joint select committee which is looking into the sale of BHS. The boss of Sports Direct responded to the committee saying he will provide written evidence. Ashley admitted this week that [...]
Sir Philip Green has still not had an apology from Frank Field over “defamatory” comments July 27, 2016 Sir Philip Green has still not had an apology from Frank Field – two days after the retail tycoon said Field had 24 hours to apologise for saying Green stole money from BHS. Speaking about whether Field had offered an apology yet, Green told City A.M.: "No, I haven't heard from him yet." Read more: This is the one person [...]
Chappell bagged BHS with £35m backing from property dynasty May 29, 2016 Property investors bolstered Dominic Chappell's bid for BHS by handing him the £35m he needed to prove to Arcadia group that he was a suitable buyer for the high street retailer, the Sunday Times reported today. A month before Sir Philip Green sold BHS for £1 to Retail Acquisitions – majority-owned by Chappell – the son and [...]
BHS: The six answers we have so far from the parliamentary inquiries May 30, 2016 Last week, Frank Field, chair of the Work and Pensions committee, said that the two inquiries launched to unmuddy the waters surrounding BHS’ collapse into administration in April had so far left them with more questions than answers. With both Retail Acquisitions’ largest shareholder Dominic Chappell and Arcadia bigwig Sir Philip Green preparing to tell [...]
“Unscrupulous” deals should be scrutinised and potentially blocked in the wake of the BHS debacle according to the former chair of the pension protection fund July 31, 2016 THE pensions regulator should be given new powers to block “unscrupulous” deals, or be bolstered by the creation of a separate agency, in order to avoid a repeat of the BHS pensions debacle according to the former chair of the Pension Protection Fund, Lady Barbara Judge. She believes a new entity along the lines of [...]
BHS inquiries have “prompted more questions than answers” May 26, 2016 The two inquiries set up to investigate the BHS fiasco have unearth more questions than they have answers, the chair of one of the committees involved said today. Frank Field, who chairs the Work and Pensions committee, has written to Goldman Sachs’ Anthony Gutman, who appeared at an evidence session on Monday, and Arcadia Group for further [...]
Dominic Chappell faces MPs’ questions on BHS collapse as retailer’s management appear at BIS select committee hearing June 8, 2016 Former BHS owner Dominic Chappell, the majority shareholder of Retail Acquisitions, which bought BHS for £1 last year from Sir Philip Green, is giving evidence on the retailer's collapse this morning. The business, innovation and skills (BIS) select committee has already heard explosive evidence about the sale of BHS to Retail Acquisitions and its subsequent demise – with [...]
Seven numbers explaining the demise of BHS July 25, 2016 The demise of BHS has been a long and uncomfortable journey – and today MPs have pointed at Sir Philip Green as the one ultimately responsible for its collapse. BHS ended up in liquidation after no buyer came forward to take on the high street brand as a going concern. 11,000 Administrator Duff & Phelps announced that while it continued to try [...]
Retail Acquisitions boss Dominic Chappell is being hauled in front of MPs over the £1 BHS deal May 18, 2016 The man who bought BHS for a £1 just over a year before it entered administration is to be hauled in front of the two committees investigating the retailer's demise, MPs confirmed today. The Business, Innovation and Skills committee and the Work and Pensions select committee – which are probing the handling of the sale of BHS [...]