Former BHS owner branded 'Premier League liar'

The businessmen who ran the company gave colourful and conflicting accounts of the retailer's final days before MPs today.

The chain is set to go into liquidation after administrators failed to find a buyer. All 163 stores will close with 11,000 jobs also expected to be lost.

Dominic Chappel's former management team turned on him calling him a "premier league liar and a Sunday pub league retailer at best".

ITV News Business Editor Joel Hills reports:

The former owner of BHS has claimed Sir Philip Green attempted to sabotage an attempt to sell the beleaguered retail department store to Sports Direct.

Speaking in front of a committee of MPs, Dominic Chappell said Sir Philip, from whom he bought the company for £1, "went absolutely insane" when he found out about the possible sale to Sports Direct.

Mr Chappell said the sportswear company was a "willing buyer" and its owner Mike Ashley was going to "save the business".

Mr Chappell also admitted he made a profit out of BHS, but refused to detail how much, saying he will give a "full breakdown" on a spreadsheet "as soon as practically possible".

When questioned whether he felt he'd earned the profit he made out of BHS he said: "Yes I do".

The former BHS owner added that he is "devastated" for the 11,000 people who face losing their jobs.

The former owner of BHS has admitted he knew "nothing" about retailing when he bought the company from Sir Philip Green for £1.

But, speaking to a committee of MPs, Dominic Chappell insisted that his lack of retailing experience didn't matter.

• BHS owner surrounded by people 'not fit for purpose'

The former owner of BHS, Dominic Chappell, has blamed "continuous battering" by the pensions regulator and Sir Philip Green for the failure of the company.

Speaking to a committee of MPs, Mr Chappell said Sir Phillip Green, from whom he bought the company for £1, "genuinely thought we would fail".

"If we didn't buy it he would have liquidated that company for sure", he said.

The decision to call in the administrators to BHS was Sir Philip Green's, the company's owner Dominic Chappell has told MPs.

Mr Chappell bought BHS for £1 from Sir Philip Green last year through his company Retail Acquisitions.

The retail department store is being wound down after administrators failed to find a buyer. All 163 stores will close with 11,000 jobs also expected to be lost.

ITV News' Business Editor Joel Hills has the latest:

• Chappell 'made threats to kill', MPs told
• BHS owner Dominic Chappell branded 'Premier League liar'

Dominic Chappell, the former owner of BHS, surrounded himself by people who were "not fit for purpose", a committee of MPs has been told.

BHS finance consultant Michael Hitchcock said:

• BHS owner Dominic Chappell branded 'premier league liar'
• Former BHS owner 'made threats to kill', MPs told

The former owner of BHS, Dominic Chappell, "threatened to kill" his former CEO, Darren Topp, MPs have been told.

Mr Topp said the threat came after he questioned the transfer of £1.5m to BHS Sweden.

• Former BHS owner: 'We knew nothing about retailing'
• Dominic Chappell branded 'Premier League liar'

The owner of BHS, Dominic Chappell, "failed dramatically" to deliver a turnaround plan to save the business, including the closure of at least 30 loss-making stores, the company's former finance director has told MPs.

Michael Hitchcock also said the firm failed to raise capital "based on either the sale of properties and/or the leveraging of debt against the value of those properties".

"Dominic Chappell put up a team of supposed experts to address those issues - they failed, dramatically", he added.

The owner of BHS, Dominic Chappell, "had his fingers in the till" and was a "Premier League liar", a former BHS executive has told MPs.

Michael Hitchcock also accused Mr Chappell of being a "Sunday pub league retailer".

Dominic Chappell, who bought BHS for £1 from Sir Phillip Green, is due to face the committee of MPs later on Wednesday morning.

Last week administrators to the department store chain stopped trying to find a buyer, resulting in the loss of up to 11,000 jobs and the closure of 163 shops.

ITV News' Business Editor Joel Hills reports: