Former BHS boss Dominic Chappell has been fined £50,000 plus £73,900 in costs for breaching pensions law, due to his failure to provide The Pensions Regulator with information it requested on the firm’s collapse. The failure of the retailer had led to the risk that BHS pensioners would have to be bailed out by the Pension Protection Fund.
The punishment was handed out at Hove Crown Court after Mr Chappell's appeal against his conviction failed earlier this year. Prosecutor Alex Stein argued said Mr Chappell had shown a “persistent, deliberate and blatant” disregard for pension law. The defendant, who has been declared bankrupt twice, represented himself, claiming he had no money left for legal fees. He also said he could not afford to pay any fines.
Mr Chappell had bought BHS from Sir Philip Green's Arcadia empire for £1 in 2015, a year before it collapsed. Sir Philip had previously agreed to cover his liabilities relating to the BHS pension fund by paying £363 million into it.