Grrr.. on the English High Street for over 80 years and, at one time, before it was gobbled up by people who mangled it, BHS, aka British Home Stores, a good department store. If you wanted a proper lamp of any description you went to BHS. Their buyers were amazing and they knew their market but it's been down graded beyond recognition and is now a mere shadow of its' former self.
Sir Philip Green sold it within the past few years for the enormous and princely sum of £1.00. No, I kid you not. It is now in the hands of receivers and going into bankruptcy, the present owners having failed to run successfully.
There is a GREAT deal about it in the newspapers today, with much more detail than we are putting here BUT.. There remains of course, the Pension Fund.. ahha.. you see, the plot thickens. For in 2012, it was running at a staggering £571,000,000 deficit.. gulp
Because now you see why we wrote the title. For Robert Maxwell plundered his various companies' pension funds of £440,000,000. Yes, four hundred and forty MILLION pounds and there are over 30,000 BHS employees whose jobs and pensions are at risk here.
This brings to another piece of interesting news. Which has nothing to do with the BHS story but is mighty interesting to us. The Indian Government has issued an arrest warrant for Vijay Mallya and his passport has been revoked. He is the son of Vittal Mallya (deceased).
Her grandfather F. E. Hooper was the last Chairman of Mc.Dowell & Company, it was started by Dr. Angus McDowell in Madras in 1825, he was her and BUBs' 4th gt. grandfather. The family company was 'asset' stripped by the Indian staff who were supposed to be running and taking care of business and the company.
Because as they sold off and closed down huge successful sections of the business that McDowells traded in, after F.E's death in 1944, Vittal Mallya was able to buy it for a pittance in 1951. Their grandmother was left penniless as too was her mother-in-law, F. E's mother, who died just after Vittal Mallya got control of the company.
Skulduggery.. it will be interesting to see what emerges in the next period of time with the BHS story but I would think that the long term employees are more than 'slightly anxious' at the present time. But where is Mr. Vijay Mallya and where he intends to go.. with no valid passport?
GeeGee Parrot.
April 26th, 2016.
PostScript: Mallya is reportedly here in England.
Sir Philip Green sold it within the past few years for the enormous and princely sum of £1.00. No, I kid you not. It is now in the hands of receivers and going into bankruptcy, the present owners having failed to run successfully.
There is a GREAT deal about it in the newspapers today, with much more detail than we are putting here BUT.. There remains of course, the Pension Fund.. ahha.. you see, the plot thickens. For in 2012, it was running at a staggering £571,000,000 deficit.. gulp
Because now you see why we wrote the title. For Robert Maxwell plundered his various companies' pension funds of £440,000,000. Yes, four hundred and forty MILLION pounds and there are over 30,000 BHS employees whose jobs and pensions are at risk here.
This brings to another piece of interesting news. Which has nothing to do with the BHS story but is mighty interesting to us. The Indian Government has issued an arrest warrant for Vijay Mallya and his passport has been revoked. He is the son of Vittal Mallya (deceased).
Her grandfather F. E. Hooper was the last Chairman of Mc.Dowell & Company, it was started by Dr. Angus McDowell in Madras in 1825, he was her and BUBs' 4th gt. grandfather. The family company was 'asset' stripped by the Indian staff who were supposed to be running and taking care of business and the company.
Because as they sold off and closed down huge successful sections of the business that McDowells traded in, after F.E's death in 1944, Vittal Mallya was able to buy it for a pittance in 1951. Their grandmother was left penniless as too was her mother-in-law, F. E's mother, who died just after Vittal Mallya got control of the company.
Skulduggery.. it will be interesting to see what emerges in the next period of time with the BHS story but I would think that the long term employees are more than 'slightly anxious' at the present time. But where is Mr. Vijay Mallya and where he intends to go.. with no valid passport?
GeeGee Parrot.
April 26th, 2016.
PostScript: Mallya is reportedly here in England.
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