The family home of Dominic Chappell, the former owner of BHS, was on the brink of being repossessed before cash from the department store chain was used to pay off the mortgage.
The Guardian has learned that financial company Amicus initiated legal proceedings against the Chappell family to repossess the property unless their debts were repaid. The debt was settled when the parent company of BHS paid out £1.5m. The money came from BHS and was paid out as an interest-free loan. It has not been repaid.
The saga raises further questions about Chappells management of BHS and highlights the chaos behind the scenes as the chain headed for collapse.
The last of BHSs…
Read the full article at: https://www.theguardian.com/business/2016/aug/21/dominic-chappell-used-15m-bhs-loan-to-pay-off-family-mortgage