BHS FINANCIER GETS ALL ITS MONEY BACK

A finance firm that pumped money into BHS before its collapse has recouped all its cash. In late 2015, Grovepoint Capital handed then owner Retail Acquisitions a £62million loan, secured against 10 BHS stores. It got back most of the money last year, and documents filed at Companies House show the final £19m has been repaid. Nearly £18m of the £54m owed to HSBC, one of BHS’S banks, has also been returned. Meanwhile, administrators handling the sale of BHS’S properties, Duff & Phelps, have been paid £3.6m in fees. Yet unsecured creditors risk kissing goodbye to most of the money they were owed when BHS collapsed. Liquidators warned they can at best expect 8p in the pound back. HMRC was due £16m in VAT and corporation tax. Shamed tycoon Sir Philip Green, who sold BHS for £1, is still waiting for £35m back. Liquidators are investigating the “validity” of the charge.