Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site.... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Skip to content Skip to footer

City AM looks at BHS pensions and staff payouts

City AM looks at BHS pensions and staff payouts

City AM looks at BHS pensions and staff payouts

City AM reporter, Helen Cahill delves into the arrangements for the government to make payments to BHS staff being laid off by the Administrators, quoting our Business Risk Adviser Nick Hood:

Redundancy payments due to BHS staff will ultimately come out of the public purse, via the National Insurance Fund, and could cost taxpayers £12m, according to Nick Hood, a business risk adviser for Opus Restructuring.

He added: “But I think that number might be a bit low. At Comet, the cost was nearer £25m, and they had fewer staff.”

The payouts are likely to be received by staff 5 or 6 weeks after they are laid off, but Hood said the time period would depend on the number of applications being handled by the government at any one time.

 

Click here to read the full article

Keeping Informed

Sign up to our monthly newsletter sharing the latest insights and industry news