Chappell found guilty of failing to give information to TPR about the sale of BHS

15 January 2018

The majority shareholder of the company that bought BHS for £1 has been convicted of failing to hand over information to The Pensions Regulator (TPR).

Dominic Chappell failed to provide information that TPR had required him to supply as part of its investigation into the sale and then collapse of BHS, using powers under section 72 of the Pensions Act 2004.

This included information about the purchase of BHS by Retail Acquisitions Limited and the participants involved, as well as transactions involving BHS and Retail Acquisitions Limited after the sale had been completed.

Mr Chappell also failed to provide TPR with information about a possible unauthorised disclosure of restricted material.

At Brighton Magistrates’ Court on 11 January Mr Chappell was found guilty of three charges of neglecting or refusing to provide information and documents, without a reasonable excuse. Mr Chappell had denied the charges.

District Judge William Ashworth adjourned the case until 19 January, when Mr Chappell will be sentenced at Winchester Crown Court.

The case is the fifth criminal conviction secured by TPR against individuals or organisations for failing to comply with section 72 notices.

TPR’s separate anti-avoidance action against Mr Chappell in respect of the BHS pension schemes is continuing.

The full press release is available on TPR’s website.