Dominic Chappell’s company Retail Acquisitions is set to sue Sir Philip Green and the Arcadia group for £14m, relating to the sale of the BHS headquarters, claiming the company lost out on proceeds from the building.
Mr Chappell is claiming that Sir Philip Green abandoned an agreement to share the proceeds from the sale of the BHS headquarters, Marylebone House, which would have raised £35m, instead transferring the company within the Green family’s own private investments, The Telegraph reports.
Retail Acquisitions received £10m in compensation from Sir Philip Green two months after the BHS sale, but is still suing for loss of proceeds on the building. It is claimed by those close to Philip Green that there was no contract made relating to the sale of Marylebone House in the first place.
Dominic Chappell is currently involved in fighting a winding up order for Retail Acquisitions in court.