BHS file for administration

[999tigger 10]

I'm sure it said on the Beeb this morning that this outfit made a tidy £8 million out of it.

 

They took a loan out. The liquidator will investigate to see if its legal. If it prejudices creditors, then they could bring a claim for wrongful or fraudulent trading.

[nuredux 10]

So will the one on the Moor be closing then, another empty unit

[davyboy 19]

Seems the way to make a fortune is to buy a business, load it up with £millions of debt, pay yourself big dividends, £millions, and then let the business die.

Screws the workers and their pensions and those that lent the business £millions.

 

---------- Post added 27-04-2016 at 08:54 ----------

 

at least he did the decent thing

 

Did he jump or was he pushed?

[Gamston 10]

I'm sure it said on the Beeb this morning that this outfit made a tidy £8 million out of it.

And the guy in charge of the outfit has been declared bankrupt twice.

[Cyclone 10]

£8 million is pocket change. BHS needed 60 to 100 million to stay in operation.

[foxy lady 10]

If he hadn't sold it he could have simply filed for insolvency. Not sure why he is getting all the blame, but it's SF I guess.

 

It's an interesting one isn't it? Because when they say Phillip Green they usually mean Arcadia or Taverta, which are publically listed companies in which anyone could buy shares.

Arcadia bought other companies and sold them off, so it is a little tricky to point to one man and claim he has some financial liability for a company that his group sold off as a going concern, and that had many hundreds of millions of pounds worth of stock and property on its books.

Edited April 27, 2016 by foxy lady

[Anna B 1,414]

It's an interesting one isn't it? Because when they say Phillip Green they usually mean Arcadia or Taverta, which are publically listed companies in which anyone could buy shares.

Arcadia bought other companies and sold them off, so it is a little tricky to point to one man and claim he has some financial liability for a company that his group sold off as a going concern, and that had many hundreds of millions of pounds worth of stock and property on its books.

 

Upon the sale of BHS, Didn't Philip Green deliberately give £400+million to his wife, living in the tax haven of Monaco?

[Gamston 10]

Courtaulds have gone into administration which is a knock on effect resulting from the BHS administration.

[rudds1 102]

Courtaulds have gone into administration which is a knock on effect resulting from the BHS administration.

 

Who are they ?

[Gamston 10]

Who are they ?

A clothing manufacture which BHS was a major customer.

[rudds1 102]

A clothing manufacture which BHS was a major customer.

 

Thank you for that

[Gamston 10]

Thank you for that

You are welcome. It was on the BBC News this morning . See link for details

 

http://www.bbc.co.uk/news/uk-england-derbyshire-36382110