Reuters is the source of this information. What is Dominic Chappell’s name and how much money does he make? Aside from his bankruptcy declarations, Dominic Chappell had not been well-known prior to purchasing BHS. Born in November 1966 in Surrey, England, he raced from 1986 until 1999. He made it to Formula Three and competed in the Le Mans 24 Hours three times, but all three times he failed to finish. For his Interactive Sportscar Championship in 2001, he installed cameras in the dashboards of race vehicles.
As a co-owner of Eyot, Chappell’s father, he also oversaw the company.
When he filed bankruptcy in 2005, he was a director of the firm. In 2008, Eyot took over as president.
For his Island Harbour maritime development on the Isle of White, the playboy businessman was most known before BHS.
48 residences, 26 premium waterfront estates, and a personal helicopter pad were all part of his plans for the land.
He couldn’t even manage a penny machine in a toilet door, an investor who lost money on the venture stated.
The purchase of BHS by Chappell’s company, Retail Acquisitions, for one pound from Sir Philip Green in March 2015 raised questions about why the retail magnate would sell his company to someone with such minimal expertise in the field.
The department store went into administration in 2016 with the loss of 11,000 jobs and a huge hole in the pension fund.
Two Commons select committees jointly concluded that Mr. Chappell misused the firm for his own personal advantage and lavishly rewarded himself and his fellow directors.
His present net worth is unknown, but the £2.65 million in fees, salary, and other payments he got while working at BHS are.
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Why did the Pensions Regulator file criminal charges against Dominic Chappell?
On August 22, 2017, the Pensions Regulator stated that it will bring criminal charges against Dominic Chappell in connection with the BHS collapse.
The watchdog said that the previous owner of BHS neglected to submit required information and records.
The regulator was looking into the BHS pensions scam, which resulted in a massive deficit of £571 million in employee pensions.
On January 11, 2018, The Pensions Regulator determined that Chappell had no good cause for failing to provide the information sought.