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MPs to interrogate Retail Acquisitions advisers over BHS


As inquiries into the demise of the British department store chain BHS continues, MPs are to call upon advisers and property moguls who had an involvement in Dominic Chappell's occupation of the business.

On their return from recess, the parliamentary committees are likely to summon Guy & Alexander Dellal who lead Alied Commercial Experts (Ace) which supplied Chappell with £35m to prove to Arcadia that Retail Acquisitions was a worthy buyer. They may also investigate David Roberts from Olswang law firm and Paul Martin from the accountancy firm Grant Thornton again.

Roberts and Martin both advised Retail Acquisitions on its takeover of BHS and were called to appear before MPs last week. Rather, the pair sent representatives to speak on their behalf who failed to answer a number of MPs questions.

While MPs have already questioned Arcadia executives, pension trustees and some advisers who were involved in the sale of BHS to Retail Acquisitions, the two leading figures Chappell and Green will appear before MPs on 8 June and the following week, respectively.

The Portuguese-backed consortium, led by Greg Tufnell is still in talks with BHS administrator Duff & Phelps regarding a rescue deal of the business.  

An announcement concerning the rescue deal is likely to be made on Wednesday or Thursday this week. If this does not go ahead, liquidators are to be appointed to officially close down BHS's entire estate. 

Published on Tuesday 31 May by Talya Misiri

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