More than a third of proceeds from £8.4m BHS loan went to four directors

Guardian understands quartet from Retail Acquisitions Limited shared £3m days after buying struggling department store chain

More than a third of the proceeds of an £8.4m loan taken out of BHS by its new owners in March last year went to four directors who were part of the consortium, handing them a multimillion-pound windfall just days after buying the struggling department store chain.

The Guardian understands that £3m was shared between four directors of Retail Acquisitions Limited – Dominic Chappell, the man who led the buyout of BHS, Eddie Parladorio, Mark Tasker and Stephen Bourne, who has since resigned. Chappell is thought to have received the largest portion of the funds.

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from Mergers and acquisitions | The Guardian http://ift.tt/21Ww2vO