Ex-BHS owner faces pension scheme bill of around £10m
Former BHS owner Dominic Chappell has been hit with a bill of around £10m by the pensions watchdog as it launches proceedings to claim back the cash owed to the failed retailer's pension schemes.
The Pensions Regulator (TPR) has confirmed it served a so-called determination notice on Mr Chappell last month, formally notifying him that it is seeking money owed - expected to be in the region of £10m.
The 51-year-old self-described entrepreneur has 28 days from receiving the notice to effectively appeal against the determination by referring it to the Upper Tribunal.
If he does not appeal, that will then trigger enforcement of the order to pay, with the sum pursued by the Pension Protection Fund on behalf of the trustees of the pension schemes, which had 19,000 members.
TPR declined to comment on the exact amount included in the determination notice, but a spokesman said: "Our separate anti-avoidance action against Dominic Chappell continues and TPR's determinations panel has made its determination. We will publish the outcome as soon as it is appropriate to do so."