BHS in administration

Tilbury

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The large department chain store British Home Stores, which employs 11,000 people, has gone into administration. It's pension scheme, of which there are 20,000 members, has a £571million deficit.
http://www.theguardian.com/business/2016/apr/25/bhs-heading-for-administration-as-rescue-deal-fails
The disgusting part to story is how the company was handled by billionaire former owner Sir Philip Green. In 2000 he bought the company for £200 million, 15 years later having received £400million in untaxed dividends he sold the company for £1 stating; "If you buy my house and it falls down, is it my fault? As far as I'm concerned, in terms of the actions we've put in place, there's no reason they should get in trouble".
Well Philip I would suggest that if you've destroyed the foundations of the house whilst you lived in it and it later collapses, then yes, it is your fault. And apparently he now agrees as when the news first broke he offered £80million towards the pension scheme.
The current owner Dominic Chappell has can hardly be described as the greatest owner either. http://www.theguardian.com/business...the-bhs-takeover-that-worried-retail-watchers
 

The East Terrace

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We ha a BHS in Stevenage. It hasn't changed since 70's. Flooring, everything looks exactly the same as when I was kid. Like so many shops that sell a bit of this and a bit of that, they end not being associated with anything and therefore not used.
 

Pagnell

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Just reading up on that Green character and how almost all of his businesses are in his wife's name. And, as she is a Monaco resident, it equates to him paying next to nothing in UK tax. You can certainly see how he became a Sir.

There is talk of MPs trying to make him pay back the money he removed from the business before he palmed it off for a quid, money that would almost plug the pension shortfall. I really hope this happens.
 

The Paranoid Pineapple

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I don't know that I've ever BEEN IN ONE. Must have been EONS if I have.

Should never have ditched this FETCHING LOGO. Was all downhill thereafter...

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