Home Business NewsBusiness Dominic Chappell took £1.5m from BHS to pay off family mortgage

Dominic Chappell took £1.5m from BHS to pay off family mortgage

by LLB Reporter
22nd Aug 16 9:36 am

New investigation shows

Dominic Chappell, the former owner of BHS, used cash from the retailer to pay off the mortgage on his home.

The Guardian reported that financial company Amicus was to start legal proceedings to repossess Chappell’s home before be paid off a £1.5 debt using BHS finances.

The money was paid out as an interest-free loan and has not been been repaid.

Chappell’s Retail Acquisitions snapped up BHS from Sir Philip Green for £1 last year.

The retailer went bust in April putting over 11,000 jobs at risk.

“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. That is as far as I am prepared to make a statement. I don’t discuss finances with my father on these matters, so that is where we are.”

 

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