FORMER owner of BHS Dominic Chappell was accused yesterday of being ‘a liar’ with his ‘fingers in the till’ who ‘threatened to kill’ the company’s ex-Chief Executive.
The House of Commons Business, Innovation and Skills Committee and the Work and Pensions Committee were jointly hearing evidence into the collapse of the 163-store group, resulting in 11,000 jobs losses and a huge hole in the pension fund for them and thousands of retired workers.
Chappell, a three-times former bankrupt, bought the company from Sir Philip Green for £1 last year. First to appear was ex-chief executive of BHS, Darren Topp, who drew gasps when he alleged Chappell threatened to kill him.
Topp said Chappell told him that he was a ‘turnaround expert … but it became clear to us in the end that rather than putting money in, he had his fingers in the till.’ Topp spoke about a £1.5m transfer from BHS to Sweden. ‘My initial reaction was to call the police. But before we call the police let me ring Dominic – I rang him and said to him, “That’s theft”.’
‘It’s my business, I can do what I want,’ Chappell allegedly told Topp. ‘He basically said, “Do not kick off about it,” and went on to say, “If you do, I will come down and kill you.”’
Topp said that he took the threat seriously, claiming that Chappell had been an SAS reservist. Topp also said that Chappell was in the Bahamas on the day BHS went into administration on 25th April, saying: ‘Frankly, I think it was unacceptable that he was not in the business that day.’
Then Chappell appeared, and started by saying that he was introduced to Sir Philip Green by Paul Sutton (a convicted fraudster), who seemed ‘very credible’, had a Rolls-Royce and a ‘very nice house in Mayfair’.
Chappell was adamant that he’s not to blame for the BHS pension ‘black hole’, arguing that it was Philip Green’s fault. Despite quizzing Chappell for two hours, the MPs failed to ask the former owner of BHS about the allegation that he threatened to kill CEO Darren Topp.
Chappell admitted that he was on a yacht in the Bahamas when the administrators marched into BHS to seize its assets. Chappell was asked: ‘What sort of message does it send about capitalism that you were in the Bahamas on the day when BHS went into administration? Captains should be on the bridge of the ship, not a yacht.’
Asked if he had made a profit out of BHS, he replied: ‘I have made a profit out of this,’ adding, ‘I feel I earned it.’ Chappell was asked how much money he had taken out of the company and replied that he did not know, but that he will tell them ‘as soon as is practically possible’.
Sir Philip Green will be appearing before the joint committees next Wednesday. SNP Treasury spokesman Roger Mullin said: ‘If ever there was an unacceptable face of capitalism it comes in the form of Sir Philip Green and his like.’
Shadow business minister Bill Esterson added: ‘While Sir Philip’s former workers contemplate redundancy with significantly reduced terms and a reduced pension, he awaits the delivery of a brand new £100m yacht.’
