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Insolvency Service quizzed Chappell consultants over £1 BHS purchase

Billy Bambrough
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The collapse of the retailer has sparked fears over other companies pension deficits
The collapse of the retailer has sparked fears over other companies pension deficits (Source: Getty)

The Insolvency Service has questioned two consultants who advised former bankrupt racing driver Dominic Chappell over the purchase of BHS.

Stephen Bourne and Mark Tasker worked with Chappell ahead of him buying the loss-making chain for £1 from retail tycoon Philip Green.

Bourne and Tasker were paid £387,500 each for advising Chappell’s Retail Acquisitions according to a documents sent to the pensions regulator in June last year.

Read more: Here's why Sir Philip Green just moved up the rich list rankings

Last week Green hit back at allegations he has tried to blackmail the Pensions Regulator in his ongoing negotiations over BHS’ pension deficit, saying he was “not in control of the process”.

Deloitte and Linklaters are acting for Green as he tries to come up with a sum of money to plug BHS' ballooning pension deficit.

BHS was found to have a £571m pension deficit after it was put in to administration and Chappell’s group was accused of taking at least £7m from the dying chain.

Read more: FRP Advisory set to be appointed BHS liquidators - ousting Duff & Phelps

Philip Green has said he is working with the Pensions Regulator with their investigation into the department store’s failure.

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