Ex-owner of BHS ordered to pay out on pensions slip

Former BHS owner Dominic Chappell has been ordered to pay almost £90,000 after failing to provide information about the firm’s pension schemes to investigators when it collapsed with the loss of thousands of jobs.

Chappell, director of Retail Acquisitions that bought BHS for £1 from billionaire Sir Philip Green in 2015, was prosecuted by the Pensions Regulator (TPR) under the Pensions Act 2004.

Self-described entrepreneur Chappell had claimed he did “everything and more” to help the regulator, but he was convicted of three charges after a four-day trial in January.

He was ordered to pay a £50,000 fine and £37,670 in court costs at Barkingside Magistrates’ Court in London yesterday.

BHS went into administration in April 2016, leaving a £571 million pension deficit. Sir Philip later agreed to pay £363m towards it.

Chappell had told the hearing he would have to take out a loan if he was fined. He said the “great perception of me having millions from BHS” was not true.

He added: “I’m in arrears on a number of bills at the moment. I can’t afford to pay.” District Judge Gary Lucie ordered Chappell pay the fine at a rate of £2,500 a month.