Errol Posted April 25, 2016 Share Posted April 25, 2016 (edited) The consortium that bought BHS from Philip Green for £1 last year is headed by Dominic Chappell. Dominic Chappell has twice previously been declared bankrupt. The Daily Mirror reported in April when David Cameron's offshore interests were being revealed, that Dominic Chappell had been linked to an offshore trust in Panama. Clarberry Investments was set up last year. http://www.mirror.co.uk/news/uk-news/bhs-tycoon-dominic-chappell-linked-7725363 Edited April 25, 2016 by Errol Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted April 25, 2016 Share Posted April 25, 2016 This sort of thing is going to add to the already growing mood to change the way debt is treated relative to equity. Would Green have got away with such financial shenanigans if it was shareholders' money rather than debt capital? Talk to BT/BA pensioners in ten years. Quote Link to comment Share on other sites More sharing options...
Assume The Opposite Posted April 25, 2016 Share Posted April 25, 2016 I'm under 30 and I've always thought BHS is pricey and outdated. Reminds me of Dunem Mills. Can't say I've ever bought anything there in my whole life. A boomer at work said they 'really like it for sweaters'. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 25, 2016 Share Posted April 25, 2016 Next up....NHS close to collapse Quote Link to comment Share on other sites More sharing options...
dgul Posted April 25, 2016 Share Posted April 25, 2016 I'm under 30 and I've always thought BHS is pricey and outdated. Reminds me of Dunem Mills. Can't say I've ever bought anything there in my whole life. A boomer at work said they 'really like it for sweaters'. When you reach 40 your brain changes and you start considering Dunelm mIll as a suitable activity for a Sunday afternoon. Surely you covered this at school? Quote Link to comment Share on other sites More sharing options...
winkie Posted April 25, 2016 Share Posted April 25, 2016 When you reach 40 your brain changes and you start considering Dunelm mIll as a suitable activity for a Sunday afternoon. Surely you covered this at school? .....did you not hear that quality bedding is one of the few luxuries left where value can still be added.....poor sleeping pattern, poor working pattern. Quote Link to comment Share on other sites More sharing options...
newbonic Posted April 25, 2016 Share Posted April 25, 2016 FT are running a headline about the 'Demonisation of Phillip Green' http://www.ft.com/cms/s/0/3b390862-0ad9-11e6-9456-444ab5211a2f.html So knock it off you bullies. Don't kick a man when he's down (in Monaco, on a superyacht)... Quote Link to comment Share on other sites More sharing options...
papag Posted April 25, 2016 Share Posted April 25, 2016 (edited) How much is Phillip Green's personal loss? Nothing only gains, he bought BHS with Pension fund 5 million surplus according to reports now its in deficit by 571m and he got knighted for services to retail, Only in the UK Edited April 25, 2016 by papag Quote Link to comment Share on other sites More sharing options...
zugzwang Posted April 25, 2016 Share Posted April 25, 2016 Next up....NHS close to collapse What Big Phil wouldn't give to get his hands on that! Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted April 25, 2016 Share Posted April 25, 2016 Don't kick a man when he's down (in Monaco, on a superyacht)... I keep seeing the poor man with Supermodels. He must need a lot of Care. Quote Link to comment Share on other sites More sharing options...
winkie Posted April 25, 2016 Share Posted April 25, 2016 What Big Phil wouldn't give to get his hands on that! I would think at this moment quite a few of the big corporates are eying up what choice bits would suit them best..... Quote Link to comment Share on other sites More sharing options...
rollover Posted April 25, 2016 Author Share Posted April 25, 2016 Landlords face huge rent hit as BHS collapsesLandlords of failed BHS face a bill for at least £4 million after the beleaguered retailer fell into administration, property experts have warned. Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted April 25, 2016 Share Posted April 25, 2016 FT are running a headline about the 'Demonisation of Phillip Green' http://www.ft.com/cms/s/0/3b390862-0ad9-11e6-9456-444ab5211a2f.html So knock it off you bullies. Don't kick a man when he's down (in Monaco, on a superyacht)... Ridiculous (almost as if it was sponsored by the man himself!) article but most comments are consistent in disagreeing with it. I really hope PPF goes after him Quote Link to comment Share on other sites More sharing options...
olde guto Posted April 26, 2016 Share Posted April 26, 2016 Seems crazy that Taxpayers should be covering the pension fund of a failed company, at the same time as knighting the person who helped fail it. Appreciate that it's not fair for BHS Pensioners to pay the price when they probably worked hard for their pensions, but surely its equally unfair to ask everyone else to pay, particularly if we are as broke as our government claims we are. Haven't governments of various flavours raided these pension pots for taxes? I suspect they've extracted far more from Brown's tax raid on pension pots than they've ever had to pay out to failed pension schemes. Also if you don't look after company pensions even more people will start ploughing their money into property as their "pension". Quote Link to comment Share on other sites More sharing options...
Motor_Blade Posted April 26, 2016 Share Posted April 26, 2016 Haven't governments of various flavours raided these pension pots for taxes? I suspect they've extracted far more from Brown's tax raid on pension pots than they've ever had to pay out to failed pension schemes. Also if you don't look after company pensions even more people will start ploughing their money into property as their "pension". Safe to say that the proceeds of such pension raids are long gone. Quote Link to comment Share on other sites More sharing options...
R K Posted April 26, 2016 Share Posted April 26, 2016 Found some of the deficit. There, that wasnt too difficult was it Buy company, load with debt, pay your wife oodles in dividends, stash it in tax haven, buy an obscene yacht with pensioners savings. Isnt that what knight of the realm do? Quote Link to comment Share on other sites More sharing options...
R K Posted April 26, 2016 Share Posted April 26, 2016 Makes Robert Maxwells yacht look quite modest Quote Link to comment Share on other sites More sharing options...
R K Posted April 26, 2016 Share Posted April 26, 2016 Maxwell's looks quite gentle. Green's looks mean and aggressive. Was it blobblobblob or spyguy who said it was "floating on the tears of pensioners". That was Robert Maxwell Quote Link to comment Share on other sites More sharing options...
200p Posted April 26, 2016 Share Posted April 26, 2016 "Lionheart" Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted April 26, 2016 Share Posted April 26, 2016 (edited) Fairyland, on 25 Apr 2016 - 08:38 AM, said: How much is Phillip Green's personal loss? Didn't it cost him £1 originally? So I'm guessing £1... A Pound Shop ? Edited April 26, 2016 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
billybong Posted April 26, 2016 Share Posted April 26, 2016 There was no evidence of administration in BHS today. No giveaway bargains or anything to convert stock into cash or anything. Quote Link to comment Share on other sites More sharing options...
Guest eight Posted April 26, 2016 Share Posted April 26, 2016 There was no evidence of administration in BHS today. No giveaway bargains or anything to convert stock into cash or anything. Same happened with Brantano. My local one brought in even more stock at the same prices. Quote Link to comment Share on other sites More sharing options...
Quicken Posted April 26, 2016 Share Posted April 26, 2016 Bets on the next big one? Debenhams anyone? Quote Link to comment Share on other sites More sharing options...
Guest eight Posted April 26, 2016 Share Posted April 26, 2016 Bets on the next big one? Debenhams anyone? The clue is in the question. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted April 26, 2016 Share Posted April 26, 2016 The clue is in the question. I've been round a few UK high streets recently, suddenly the empty shops are noticeable again. Quote Link to comment Share on other sites More sharing options...
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