Dominic Chappell, the former owner of BHS, is planning to put his personal business into administration this week and is restructuring his assets, meaning he could walk away from a substantial tax bill and protect his cash from investigations into the demise of the department store chain.
Chappell has lined up David Rubin & Partners as the administrator for Swiss Rock Ltd. The firm could be appointed as early as this week.
Swiss Rock was paid at least £1.6m by BHS and its parent company as part of Chappells controversial acquisition of the retailer.
By putting Swiss Rock into administration, Chappell could walk away from its debts, which are thought to include a tax bill on his earnings from BHS.
Chappells actions will further infu…
Read the full article at: https://www.theguardian.com/business/2016/aug/27/dominic-chappell-company-wind-up-swiss-rock-bhs