I have been astonished by the goings on at BHS.
it really is like watching a rather tragic play. First we have the flamboyant Mr Green swanning about on one yacht after the other, being photographed with Supermodels and suddenly disposing of a company, I hesitate to say selling, to a gentleman who appears to have about as much knowledge of running a large retail company as I do about Astro physics.
Vast amounts of money are taken out of the Company by both Gentlemen and after a very short time in the ownership of Mr Dominic (I don’t know what I am doing) Chapelle , over eleven thousand people are left wondering if they will have a job or not in a months time.
Mr Green fumes and protests his innocence, and Mr Chapelle, obviously suffering from some sort of delusional disorder, says he needs more time.
If it was not so sad it would be funny.
What I have difficulty understanding is how on earth with so called financial experts and high grade Accountants overseeing the deal, no one said STOP, this cannot go ahead.
I can only assume that, while the shop assistants were beavering away on the minimum wage with nothing to look forward to but ten per cent off the merchandise, the expert Advisors were able to pocket rather large sums in professional fees.
A friend of mine wants to purchase a small business in a sector in which she has a lot of experience. She has money to put down and wants to borrow the balance, she has had to go through a great deal of scrutiny to enable her to obtain the finance.. .
There appears to be one rule for those who appear to have money and are Charlatans, and another for those who want to buy a genuine business and have a good degree of integrity.
Could the moral of the story be that the more devious and dishonest one is, the easier it is to get finance?