24 July 2024, 16:59
By Furniture News Jun 12, 2024

Ex-BHS directors fined for their role in retailer's collapse

Ex-BHS directors Lennart Henningson and Dominic Chandler have been ordered to pay creditors at least £18m for their role in the retailer's collapse in 2016, reports BBC News.

The pair, who worked for Dominic Chappell, who bought the chain from Sir Philip Green for £1 in 2015, have been found liable for wrongful trading, misfeasance trading and misfeasance, breaching "breached their corporate duties by continuing to trade despite knowing there was no reasonable chance that BHS could avoid insolvency" at the time, states BBC News.

Justice Leech, who handed down the ruling, said that each "must pay £6.5m for wrongful trading and £5.6m between them for the charges of misfeasance" and will make a further decision on what more the pair owe later this month.

Claims faced by Dominic Chappell, who was jailed for six years in 2020 for tax evasion, will be considered at a separate hearing.

Read more here.

© 2013 - 2024 Gearing Media Group Ltd. All Rights Reserved.