Buyer of BHS ‘arrested over £500k tax demand’
THE businessman who bought BHS for a pound has reportedly been arrested for failing to pay more than £500,000 in tax.
The businessman who bought BHS for a pound has reportedly been arrested
Dominic Chappell is said to have been arrested by HM Revenue and Customs officers earlier this month, after a dawn raid at his country retreat in Dorset.
The 49-year-old’s alleged arrest is reported to be in relation to unpaid tax from profits he made on the collapsed department store chain.
Mr Chappell’s company, Swiss Rock Ltd, is said to owe £365,000 VAT and £196,306 in corporation tax.
The former bankrupt – who has made no comment on the reports – purchased BHS from Sir Philip Green in 2015.
Dominic Chappell is said to have been arrested by HM Revenue and Customs
Sir Philip Green 'sad and very sorry' over BHS collapse
BHS was put into administration in April 2016
Chappell, who had no previous no retail experience, bought BHS for £1 in March last year from Sir Philip Green through Retail Acquisitions, a consortium of which he owned 90%.
The chain was put into administration in April 2016, resulting in the closure of 164 stores and a loss of 11,000 jobs.
The alleged arrest came on the same day that the Pensions Regulator began action against him and Sir Philip “to seek redress on behalf of the BHS pensions scheme.