Advisor to BHS, Goldman Sachs, warned management that ex-racing driver Dominic Chappell had a history of bankruptcy before he bought the chain for £1. The company collapsed into administration only 13 months later.
MPs are currently examining the role that BHS’ directors and advisers played before the sale of the retailer.
Anthony Gutman co-head of Goldman Sachs' European investment banking services, told MPs that he told Sir Philip's Arcadia Group about Mr Chappell's history of bankruptcy and lack of retail experience.
Mr Gutman organised a meeting on behalf of Arcadia with Mr Chappell at Goldman ahead of the BHS sale, a meeting which is now under scrutiny from the parliamentary inquiry as it seeks to find out who is responsible for giving the green light to the deal. Mr Chappell and his vehicle Retail Acquisitions, are expected to be questioned next month.
