Former BHS owner Dominic Chappell has been handed an extension to try and prevent his business venture, Retail Acquisitions, from being put into administration.
The former racing driver and multiple bankrupt has now been given until Friday to submit evidence to the High Court over a request by BHS’s administrators Duff & Phelps to wind up Retail Acquisitions.
Chappell has been granted an extension due to his arrest by HMRC officers earlier this month, Retail Week understands.
Duff & Phelps want to examine the sums of money lent to Retail Acquisitions by BHS when Chappell was in control of the collapsed department store chain.
Yesterday was the original deadline for Chappell to submit evidence to the High Court relating to the winding up petition.
Chappell was at the helm of BHS when it collapsed less than one year after he bought it, leaving 11,000 people out of a job and 20,000 pensioners in the lurch.
He is reported to have borrowed £8.4m from BHS, including £1.5m to pay off a mortgage on his parents’ house, in the form of loans to Retail Acquisitions.
He claims to have paid back £2.4m of that.
Chappell has already put another of his businesses into liquidation.
He appointed David Rubin & Partners administrators of Swiss Rock, which is understood to have been paid at least £1.6m by BHS, in September.