Former SuperGroup chief financial officer Shaun Wills’ personal bankruptcy has been annulled after he paid back money he owed following a tax dispute.
Wills stepped down from his role at SuperGroup with immediate effect after being declared bankrupt on February 10 by HM Revenue & Customs.
Following a hearing at the Royal Courts of Justice in London on April 14, at which the bankruptcy was annulled, Wills told The Times he had become embroiled in a long-running tax dispute with HMRC, which dated back to 2009. The amount owed was in the region of £160,000, the newspaper reports.
Wills insisted he was not trying to profit from the situation, but said there had been a breakdown of communication with HMRC. He has now repaid the money.
Wills, who joined SuperGroup in April 2012, said he does not envisage a return to the business. The former chief operating officer at Habitat and finance director of Fat Face is considering other offers.
Moira Benigson, founder of executive search firm MBS Group, said: “I don’t think this will affect his future job prospects. The bankruptcy didn’t affect his work responsibilities and he is very good, with a lot of experience so he should get another similar role.”
SuperGroup replaced Wills on an interim basis with Nick Wharton, who has previously been chief executive of Dunelm Group and chief financial officer at Halfords.
The announcement of his departure from SuperGroup came less than two weeks after chief operating officer Susanne Given stepped down from the board with immediate effect.
SuperGroup declined to comment on the annulment.