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BHS pension deficit twice the reported level

BHS’s pension scheme deficit was £207m last year, twice the amount reported in the 2013 accounts.

A letter has been sent by Chris Martin, chairman of the trustees, to members of the scheme revealing the gap, according to the Sunday Times.

Retail Acquisitions which bought the chain for £1 from Philip Green on March 12 took on the pension liabilities as part of the deal.

Martin said it was “business as usual”, and the department store chain would continue to contribute £9.5m a year to pay the pensions.  

Readers' comments (3)

  • This is smelling worse by the day. I hope all those that should be watching like hawks are doing so and that Drapers will continue to shine a light...

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  • I imagine cuddly Dave will give this man a Knighthood for his contribution(s) to the party(country)....oh wait he already has.

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  • oh look comment was removed regarding the people he sold it to (as reported by The Sunday Times). Drapers won't shine a light on this.....the only light will be the one shining on them 3 foot from the floor. The whole thing stinks but 100% guaranteed is that P Green will def be one of the richest in the graveyard. one day.

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