Liquidators appointed for Dominic Chappell’s RAL business

By

Barbara Santamaria

Published
Jun 15, 2017

Liquidators have been appointed to Retail Acquisitions Limited, the business Dominic Chappell used in the controversial purchase of fashion chain BHS from Sir Philip Green.

Milner Boardman and Duff & Phelps have been appointed as joint liquidators to the company, with the appointment being approved by the Official Receiver on Monday.

According to Sky News, BHS acted as the petitioning creditor as it is owned about £6m by Retail Acquisitions Limited.

The move is a blow to Dominic Chappell, who has been fighting a winding-up order against Retail Acquisitions since an investigation into the collapse of BHS revealed the transfer of money from the bankrupt business to Chappell’s company.

The businessman is understood to have taken millions of pounds out of BHS before the retailer collapsed in 2016 with a huge pension deficit. He was taken to court in April for failing to provide information relevant to an inquiry launched by the Insolvency Service.

He could be disqualified as director by the Insolvency Service if the investigation finds grounds for action.