Dominic Chappell, who bought BHS for £1, to be prosecuted by pensions watchdog

 
Helen Cahill
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MP's Vote To Strip Sir Philip Green Of His Knighthood In The Wake Of BHS Collapse
BHS shut its stores last summer (Source: Getty)

Dominic Chappell, the serial bankrupt who bought BHS for £1, is being prosecuted by the pensions watchdog.

The Pensions Regulator said this morning Chappell had failed to hand over crucial documents regarding his purchase of BHS.

Chappell will face three charges of neglecting, or refusing, to provide information and is set to appear in court on 20 September.

Read more: Revealed: Sir Philip Green's growing Arcadia pension deficit

The pensions watchdog has been investigating Sir Philip Green's sale of BHS to Retail Acquisitions, the company majority-owned by Chappell.

It was seeking to establish whether Green was trying to avoid his hefty pensions obligation with a quick sale of the business. However, the regulator abandoned its pursuit of the retail tycoon after he agreed to pay out £363m to BHS' pensioners.

Frank Field, the MP who spearheaded the parliamentary investigation into the collapse of BHS, said: "If the Pensions Regulator is frightened of landing the whale, I suppose going after the sprat is the next best thing."

The watchdog has also been determining whether Chappell should contribute to BHS' pensions black hole, and sent a 300-page outline of its case to him in November.

BHS' administrators have also chased Chappell over the past few months, seeking a judge's permission to put Retail Acquisitions into liquidation. The move allowed administrators Duff & Phelps to access the £6m Chappell's firm owed BHS, which Duff & Phelps wanted to return to creditors.

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