Dominic Chappells company Retail Acquisitions Limited (RAL) has been put into liquidation, opening the door for creditors including Sir Philip Greens Arcadia Group to recoup plundered BHS funds.
RAL was placed into liquidation last Thursday following a high court ruling, allowing liquidators to scour the companys financial records to establish the legitimacy of the millions of pounds taken from BHS funds during RALs 13-ownership.
On Tuesday, a judge ruled that the company was insolvent, despite Chappells claims that RAL still held £10 million in assets so was still a viable business.
The newly available financial records revealed that shortly after incorporating BHS, RAL took out a £6.2 million loan and soon afte…
Read the full article at: https://www.retailgazette.co.uk/blog/2017/05/dominic-chappells-company-enters-liquidation-revealing-fate-bhs-funds/