MPs want Dominic Chappell to explain the funds he took out of BHS, and his salary payments

 
Helen Cahill
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MPs are now turning to Retail Acquisitions' directors in their inquiry into the collapse of BHS (Source: Getty)

The joint select committee inquiry into the collapse of BHS wants to know about Dominic Chappell's bonus and why he was given one.

MPs are also demanding more information from Chappell on the money he took out of the company, and the salaries of Retail Acquisitions directors, who "cannot escape scrutiny for the plight of BHS".

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Iain Wright MP, chair of the Business, Innovation and Skills committee, and Frank Field MP, chair of the Work and Pensions committee, have written to Chappell for a breakdown of the funds he personally took out of BHS, as well as funds taken out by Retail Acquisitions, majority-owned by Chappell.

Wright and Frank want to know what proportion of Chappell's £650,000 salary came as bonus payments, and the reasons for him receiving a bonus.

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Chappell has been asked to turn over the salaries of the other Retail Acquisitions' directors and the names of those who had a say on the remuneration committee that decided salary payments.

Frank Field said:

While the main focus of this inquiry has been the stewardship of BHS and its pension fund in the run up to the sale to RAL, the exact circumstances of that sale, the directors of RAL - who were paid very handsomely for their role in the sale - cannot escape scrutiny for the plight of BHS and its pension fund.

We are still elucidating the full story of the final collapse of BHS, but it happened under Dominic Chappell and RAL's stewardship: they should also account fully and properly for their decisions and actions, some of which appear quite extraordinary.

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