BHS’s biggest creditor, The Pension Protection Fund (PPF), is reportedly seeking legal action against the former directors of the defunct retail chain.
The PPF has asked BHS’s administrators to put it into liquidation by the end of the month.
The firm that will carry out the liquidation, FRP Advisory, is expected to look into bringing misconduct charges against the retailer’s former directors, including Dominic Chappell who bought the chain for £1 from Sir Philip Green.
Chappell was reportedly recently arrested for failing to pay £500,000 in tax on money he took from BHS before it collapsed into administration in April.
Meanwhile Chappell is reportedly struggling to keep another business afloat and has admitted that it is running out of cash, according to The Mail on Sunday. Chappell is the sole director of Las Vegas-based software developer Todex which filed a warning with the US stock exchange last month.