Retail round-up: BHS workers demand Sir Philip Green pays pensions, Majestic Wines chief to distribute his bonus to staff and Debenhams to emerge from Examinership.
Ex-BHS owner Dominic Chappell confirms legal letter from Sir Philip Green
Former BHS owner Dominic Chappell will look to repair his maligned reputation after the parliament damned him as the “most egregious example of individual greed”.
He has confirmed that he has been issued a letter from Arcadia tycoon Sir Philip Green, who has threatened legal action against him and his three other Retail Acquisition directors after their disastrous deal.
Chappell has revealed that he is flying back into the country to face the music after consulting with his lawyers about the report. He said he would not be drawn on his views on a select committee report into BHS's collapse ahead of making a full statement today.
Meanwhile, Green is facing the wrath of BHS staff over its pension issue after they took to social media to express their anger.
Workers are sharing petitions, creating support groups and posting abusive pictures as they blame him for the demise of the high street retailer.
Employees are demanding Green secure their financial futures by paying them their pensions.
Majestic Wines employees set to get potential windfall of over £7m
Majestic Wines chief executive Rowan Gormley has handed his more-than-£7m shares bonus to the retailer’s employees after he refused to accept the shares offered to him as part of a long-term incentive plan.
Some 493 staff, from store manager level up, will receive more than £14,000 each, if they achieve their targets.
Gormley said Majestic was 'doing the right thing for our people', adding: 'We're serious about aligning our people and our shareholders' interests. We are focused on investing in our people.'
Debenhams to emerge from Examinership
Debenhams Retail Ireland Limited (DRIL) has resolved differences with landlords, making way for the business to emerge unopposed from Examinership, the Independent reported.
The 100-day examinership period has been extended by 30 days until August 19, giving Examiner Kieran Wallace time to secure a rescue package for the company.
Debenhams' UK parent is the preferred bidder (followed by Sports Direct) to acquire the business in Ireland.