Former BHS owner Dominic Chappell has been issued with a formal demand for around £10m in connection with the department store chain’s pension scheme, Sky News has reported.
It is understood that the Pensions Regulator informed Chappell of this last month, at which point he was given 28 days – of which there is now less than a fortnight left – to refer the order to the Upper Tribunal for review. If he does not, the demand could be enforced in the form of a contribution notice.
Chappell was charged with refusing to respond to three section 72 notices demanding he provide documents and information relating to the purchase of BHS earlier this month.
A TPR spokesperson said:
“Our separate anti-avoidance action against Dominic Chappell continues and TPR’s Determinations Panel has made its determination. We will publish the outcome as soon as it is appropriate to do so.”