Former BHS director Lennart Henningson has agreed to a five-year ban from UK company directorships imposed by the Insolvency Service, following the tumultuous demise of the department store.
Henningson was a director at the department store chain immediately before its collapse in 2016. He transferred £1.5m from BHS to a Swedish company the day after its board had discussed the appointment of administrators.
He worked alongside Retail Acquisitions founder Dominic Chappell, who bought BHS for £1 from Sir Philip Green in 2015. Chappell was served a 10-year boardroom ban in November last year.
Earlier this month, Chappell was ordered to pay £9.5m into BHS’s pension schemes.
The collapse of BHS in 2016 resulted in 11,000 people losing their jobs, and left a gaping pension deficit. Sir Philip Green, who owned BHS for 15 years before selling it to Chappell, agreed to a voluntary contribution of £363m in February 2017.