Reply to: RIP BHS

[saptastic]

Pension fund deficit... interesting in this case the Govt did not do a tulip to help them, 11000 jobs - steel industry however SUDDENLY got talks of allowing pension fund to use different inflation figures ...

Steel industry is less jobs but as in specific areas and got lots of media pressure therefore Govt ministers were flying in everywhere.

With BHS they didnt give a toss - but left it to committees to spend the next three years analysing the deal.

Businesses go under - but clearly Sir PG knew it would go under and so offloaded it so he could balme others.
And not hit is reputation. As anyone doing basic DD would understand that Chappell was the wrong buyer.

[MrMarkyMark]

Pension fund deficit... interesting in this case the Govt did not do a tulip to help them, 11000 jobs - steel industry however SUDDENLY got talks of allowing pension fund to use different inflation figures ...

March of the makers

[AtW]

Pension fund deficit... interesting in this case the Govt did not do a tulip to help them, 11000 jobs - steel industry however SUDDENLY got talks of allowing pension fund to use different inflation figures ...

[saptastic]

BHS going under

Lots of questions for Sir PG and Dominic Chappell to answer for.
Chappell bought for a £1 and withdrew approx £25m in Year 1.
Chappell was twice bankrupt and no retail experience.

More than meets the eye there.........

[AtW]

Indeed. Same as Rover cars. I am amazed the rules have not changed as this all looks legal.

It's business innit?

[Mordac]

I can see Debenhams heading the same way at some point in the next 5-10 years too.

I won't miss BHS.

Wifey agrees, that's why she can't wait to get the feck out of there...

[TheCyclingProgrammer]

I can see Debenhams heading the same way at some point in the next 5-10 years too.

I won't miss BHS.

[Mordac]

BHS collapse threatens 11k jobs as Sir Philip Green's accused of pocketing £425m | Daily Mail Online

Dominic Chappell - He bought BHS for a £1 - took out £25m in 12 months and can now walk away whilst it goes into admin.

Sir PG sells to someone with no retail experience and a terrible financial/business background for a £1.

A conspiracy theory would be Sir PG didn't want it to fail under his name especially with the under invested pension deficit and his massive ego. So offloaded it to this guy who milked it and has a tarnished image anyway. And they can all walk away.

Under investment of the pension whilst lining your own pockets in a tax haven and selling the business to someone so inadequate. Not what you expect from a Sir......

Not correct I'm afraid. He paid (tax deductibly, I'm sure) £200m-ish, trousered about £400m and sold it for £1. Edit - just re-read your post, thought you were aiming it at Sir PG. Hence the innaccuracy of my response...

[BrilloPad]

Don't forget that Austin Reed are also going tits up with the loss of around 1000 jobs....

I am sure the shops will be taken over by poundland.....

[BrilloPad]

BHS collapse threatens 11k jobs as Sir Philip Green's accused of pocketing £425m | Daily Mail Online

Dominic Chappell - He bought BHS for a £1 - took out £25m in 12 months and can now walk away whilst it goes into admin.

Sir PG sells to someone with no retail experience and a terrible financial/business background for a £1.

A conspiracy theory would be Sir PG didn't want it to fail under his name especially with the under invested pension deficit and his massive ego. So offloaded it to this guy who milked it and has a tarnished image anyway. And they can all walk away.

Under investment of the pension whilst lining your own pockets in a tax haven and selling the business to someone so inadequate. Not what you expect from a Sir......

Indeed. Same as Rover cars. I am amazed the rules have not changed as this all looks legal.

[darmstadt]

Don't forget that Austin Reed are also going tits up with the loss of around 1000 jobs....

[saptastic]

BHS collapse threatens 11k jobs as Sir Philip Green's accused of pocketing £425m | Daily Mail Online

Dominic Chappell - He bought BHS for a £1 - took out £25m in 12 months and can now walk away whilst it goes into admin.

Sir PG sells to someone with no retail experience and a terrible financial/business background for a £1.

A conspiracy theory would be Sir PG didn't want it to fail under his name especially with the under invested pension deficit and his massive ego. So offloaded it to this guy who milked it and has a tarnished image anyway. And they can all walk away.

Under investment of the pension whilst lining your own pockets in a tax haven and selling the business to someone so inadequate. Not what you expect from a Sir......

[Eirikur]

There is still a C&A in Amsterdam but it still sells tatty old clothes no one wants.. They've missed a marketing gem over there

There are C&A's all over the Netherlands and Germany. I always buy some shirts and trousers for work when I'm there. Being taller then average means it is very hard to get anything that fits me in the UK.

[Mordac]

^ This. Why would Debenhams work so hard to try and turn their business around and then take on a tat shop?

That was the point of the conversation. They wouldn't. And won't.

[northernladuk]

Do you know what C & A stands for? Old joke, I know, but still a shocker for the young'uns...

There is still a C&A in Amsterdam but it still sells tatty old clothes no one wants.. They've missed a marketing gem over there