Former BHS owner Dominic Chappell must pay £124,000 for breaking pensions law when the department store group collapsed.
Chappell, who bought BHS from tycoon Sir Philip Green for £1 in 2015 only to preside over its plunge into administration a year later, was found guilty of not providing the pensions watchdog with documents about the company’s scheme after the retailer hit the buffers, Sky News reported.
Judge Christine Henson QC chastised Chappell for showing a “complete lack of remorse” and a “blatant” refusal to comply with pension law.
Chappell has now been ordered to pay a £50,000 fine and £73,900 in court costs.
He had been found guilty in January of not giving the Pensions Regulator information. He was told to pay a £50,000 fine, £37,000 in costs and a £170 victim surcharge. He appealed, but lost, and was resentenced today.
Chappell had argued it had been “nigh on impossible” to provide the regulator with information because he was locked out of the BHS offices following its fall, and that he had no money to pay a fine, The Mirror reported.
He maintained: “I’m a victim of the circumstances that came out of British Home Stores. I wish to God we never got involved in it.”
When BHS collapsed, resulting in 11,000 job losses, it had a £571m pension deficit.