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Green ‘seeks millions in rent’ from BHS liquidator

Arcadia boss Sir Philip Green is understood to be seeking millions of pounds in rent from the BHS liquidator, it has been reported.

Green is believed to have told FRP Advisory that his Arcadia Group is due millions of pounds for Carmen Properties, which owned some of BHS’s stores, according to reports in The Sunday Times.

Carmen owned 12 of BHS’s stores and received £153m rent during Green’s 15-year ownership.

When BHS was sold to Retail Acquisitions’ owner Dominic Chappell for £1 in 2015, Green sold Carmen back to BHS for £70m, allowing the department group to save £10m a year from its rent bill, the newspaper said.

It is not clear on what grounds Green has claimed he is owed money by Carmen but it is thought it covers the period since BHS went into administration last year.

Arcadia declined to comment.

 

 

 

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