Former BHS owner Dominic Chappell ordered to pay £50,000 fine

Former BHS owner Dominic Chappell ordered to pay £50,000 fine

Dominic Chappell has been fined over the BHS collapse

Friday, February 23, 2018

A court has ordered former BHS owner Dominic Chappell to pay a fine of £50,000 for not handing over information to the pensions watchdog when the chain collapsed.

The man had purchased the popular high street shop for just £1 in 2015 from Sir Philip Green, according to The Daily Mail.

When BHS collapsed in 2016, The Pensions Regulator requested several documents from Chappell, which were about the £571 million pension black hole.

It is claimed he did not do this and The Pensions Regulator charged him with refusing or neglecting to respond to three Section 72 notices. These demanded that he provide the documents about buying the chain.

Chappell claims The Pensions Regulator has also given him a £10 million contribution notice. The 51-year-old has been instructed to pay £37,430.84 in costs.

During the court case Chappell said the "perception of me having millions from BHS" is untrue.

He claimed that he was currently behind on several bills and "can't afford to pay", therefore would have to borrow money in order to pay any fine handed to him.

Chappell claimed the only income he has is wages of £2,700 to £3,000 from a cosmetics company where he works as a consultant.

Each month his Dorset rent costs £3,800 and he has a house near Blandford Forum, but he says this is mostly mortgaged with no equity

He also has a private school bill of £2,500 each month and each year he's billed roughly £32,000 to rent a new Range Rover. Chappell has also got shares in a Gibraltar-based property investment company.