Former BHS boss Dominic Chappell to be prosecuted
The man who bought BHS for £1 is taken to court by UK pension regulator after the chain's collapse
The former boss of BHS is to be prosecuted for failing to help the pensions regulator investigate the collapse of the high-street retailer.
Dominic Chappell, who bought BHS for a nominal £1 in 2015 from billionaire Sir Philip Green, has been described by Reuters as "a serial bankrupt with no retail experience". He is charged with failing to provide information and documents the regulator requested as it looked into the sale of BHS.
The 2016 collapse led to the loss of 11,000 jobs and left a pension deficit of £571m. After lengthy wrangling this year, Green agreed to hand over £363m in cash to the pension scheme.
The investigation of Chappell, meanwhile, is still ongoing. The disgraced businessman has been summoned to appear at Brighton Magistrates' Court on 20 September to face three charges of refusing to provide information or documents without a reasonable excuse.
Labour MP Frank Field, who chairs the Parliamentary Work and Pensions Committee, asked how Green had been "allowed to get away with an inadequate settlement, in which pensions have been cut, yet Dominic Chappell is going to be sued".
He added: "I'll be consulting the House of Commons lawyers on when I can begin to unlock that puzzle, so that Mr Chappell has a fair trial."