High Street retailer BHS is to file for administration on Monday, threatening almost 11,000 jobs. Talks with Sports Direct to sell some of BHS’s 164 stores collapsed over the weekend, and it is understood any buyer would do so only if it did not have to take on the £571m pension deficit.
Last year, Retail Acquisitions, a consortium of financiers led by Mr Chappell, bought BHS from the retail entrepreneur Sir Philip Green for £1.
At the time, Retail Acquisitions said they would deliver £160m of funding to help turn around the fortunes of the chain, but have not been able to raise the sum.
