Revealed: BHS liquidators in legal row with failed department store's Russian franchise - sources

Monday, 27 November 2017, 7:16 pm

The arguing over who owes what from the sad demise of BHS has died down since late August.

In part, that's because Sir Philip Green's Arcadia retail empire relinquished a claim on the assets of the department store so FRP Advisory, which is handling the liquidiation of BHS, could hand back £30 million to other creditors.

However, Betaville can reveal there is potentially a fresh row in the offing. SHB Realisations Limited, the rump of BHS, has begun legal action against the former retailer's Russian franchise operator amid a row over stock that hasn't been paid for.

Court moles have tipped off Betaville that lawyers for FRP, which is running the BHS liquidation, secretly filed a docket in the High Court late last month with a view to taking legal action against a Switzerland-based company called Gantex S.A.

According to people familiar with the situation, Gantex S.A. is a company connected to the operator of BHS's Russian franchise. FRP is seeking to recover a six figure sum from Gantex after the Russian BHS bought a load of stock from the ailing retailer on credit, said these people.

Watch this space as this dust up, say Betaville's moles, is likely to be followed up by a few more...

FRP Advisory declined to comment. Gantex S.A. couldn't be reached for comment.


Tags: BHS, Russia, Arcadia, FRP

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