Retail news round-up on December 17, 2015: BHS owner drafts in Aidan Treacy as CFO, and Labour MPs demand government probe into Sports Direct.
BHS owner Retail Acquisitions appoints Aidan Treacy as CFO
BHS’s new owner has parachuted in new finance director Aidan Treacy, best known as a turnaround expert, according to The Independent.
Retail Acquisitions’ first significant board appointment comes nine months after acquiring the loss-making department store group from Sir Philip Green for £1.
Treacy has most recently been at Essendon Group as an associate director. He has held several positions since the 1980s, including four years as Unigate’s finance director.
Treacy told the newspaper: “Joining the already strong entrepreneurial team at Retail Acquisitions, and working with the fantastic retailers leading BHS in its turnaround plan, is the most exciting opportunity in the UK for a turnaround specialist like me.”
He added that all involved were "committed to renew" this iconic high street brand.
Labour MPs seek government response over Sports Direct minimum pay claims
Labour MPs are to seek a cross-departmental investigation into Sports Direct, following Guardian revelations over minimum wage pay claims.
Ian Mearns, the MP for Gateshead, said: “There is enough evidence to say that this needs an urgent response. If we write to different arms of the government separately, they will trade one off against the other.”
Mearns said the group is to write to Prime Minister David Cameron seeking response from HMRC and the health and safety executive, which were tasked with investigating whether the sports retailer breached national minimum wage legislation.