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BHS advisors ‘share £2.4m success fee for sale’

Accounting firm Grant Thornton and law firm Oslwang have shared a £2.4m success fee for advising on the purchase of BHS, which entered into administration just over a year after the deal completed, according to The Times.

BHS

BHS

BHS

Part of the fee paid to each firm included a £1.2m ‘contingency’ or success fee on top of the regular payment for the consultants’ services, the newspaper reported.

The companies were advising Retail Acquisitions, which was led by Dominic Chappell, on its deal to acquire the department store chain for £1 from Arcadia boss Sir Philip Green in March last year.

 

 

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