Darren Topp says BHS owner claimed he was ‘ex-SAS’ and owned a gun after being accused of £1.5m theft from company

This article is more than 4 years old

This article is more than 4 years old

The chief executive of BHS has claimed Dominic Chappell threatened to kill him after he confronted the former owner of the company about £1.5m being moved out of the business.

Darren Topp told MPs that he accused Chappell of theft after discovering that £1.5m had been moved from the company to an entity called BHS Sweden, which was not part of BHS. Topp said he considered calling the police.

BHS CEO: Dominic Chappell 'threatened to kill me over £1.5m theft" – live Read more

Chappell responded by threatening to kill him, according to Topp, who said the BHS owner had claimed he was “ex-SAS”, and owned a gun.

In his own evidence to MPs, Chappell claimed that Sir Philip Green had pushed BHS into administration after going “insane” when he found out that the retailer was in talks with Mike Ashley’s Sports Direct about a rescue deal.

Chappell also claimed that Green “genuinely believed” that his consortium, Retail Acquisition, would fail in its attempt to save BHS. He added that he was considering legal action against the tycoon and his retail business, Arcadia.

The main allegations from the hearing are:

Chappell admitted he had made a profit from BHS, but refused to reveal how much and claimed he deserved it.

The £15m of “equity” that Retail Acquisitions put into BHS came from a £5m loan from Ace, a property company, and £10m from Green.

Retail Acquisitions took £17m at least from BHS, but Chappell refused to confirm how much went to him personally.

Chappell was accused of being a “Premier League liar” and having his “fingers in the till” at BHS by its senior managers.

Green went “insane” when he found out that BHS was in talks with Ashley’s Sports Direct about a rescue deal, and pushed company into administration.

Green “genuinely believed” that Retail Acquisitions would fail to turnaround BHS, Chappell claimed.

Chappell is considering legal action against Green and Arcadia.



Chappell says he “firmly believes” Green is to blame for the failure of BHS and says the company has been “held to ransom” by the billionaire and the Pensions Regulator.

Topp said Chappell’s movement of the £1.5m, which took place just days before administrators were called in, was “disgusting”. The £1.5m was eventually repaid to BHS after the board of the company called for Chappell to give it back.

Topp alleged Retail Acquisitions took £1.8m from the sale of the company and also £7m from the £32m sale of BHS’s offices at North West House in Marylebone, north London, in March 2015.

Facebook Twitter Pinterest Former BHS owner Dominic Chappell appears before MPs to answer questions over the retailer’s collapse. Photograph: PA

Michael Hitchcock, a former finance consultant at BHS, also claimed that Chappell had been working on a plan to take the online and international businesses out of the company and put them under Retail Acquisitions.

Hitchcock said that Grant Thornton advised Chappell on the plan, called Project Herald, and was then paid more than £300,000 for its work by BHS. He accused Chappell of being a “mythomaniac” and a “Premier League liar and a Sunday league retailer”. He said events at BHS had been “completely extraordinary” and just “did not smell right”.

Hitchcock also said it was “fact” that Retail Acquisitions had taken £17m from BHS, putting in only £10m. The Guardian reported in April that Retail Acquisitions received payments of more than £25m from BHS during its 13-month ownership of the retailer.

Chappell’s consortium bought BHS for £1 in March 2015 from Arcadia. Green had controlled BHS for 15 years, during which time the tycoon and other investors collected more than £580m in dividends, rent and interest payments.

BHS is being wound down, with 11,000 jobs at risk, after administrators failed to find a buyer for the company and its 163 shops.

MPs on the work and pensions committee and business, innovation and skills committee are investigating the collapse of the company.