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The British Home Stores pension scheme: privatised looting?

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  • Ian Clark

Abstract

On entering administration, British Home Stores owed its pension scheme £571 million—a significant employment relations issue of historical wage theft by investor–owner managers. The article locates ‘lawful’ looting of business assets in a framework that builds on Ackerlof and Romer's theory of bankruptcy for profit and connects this to an empirical narrative on business re‐structuring at British Home Stores towards administration.

Suggested Citation

  • Ian Clark, 2019. "The British Home Stores pension scheme: privatised looting?," Industrial Relations Journal, Wiley Blackwell, vol. 50(4), pages 331-347, July.
    • Handle: RePEc:bla:indrel:v:50:y:2019:i:4:p:331-347
    DOI: 10.1111/irj.12261
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    References listed on IDEAS

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    1. Edmund Heery & Deborah Hann & David Nash, 2018. "Trade unions and the real Living Wage: survey evidence from the UK," Industrial Relations Journal, Wiley Blackwell, vol. 49(4), pages 319-335, July.
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    10. David Bailey & Ian Clark & Alex De Ruyter, 2010. "Private equity and the flight of the phoenix four-- the collapse of MG Rover in the UK," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 3(3), pages 367-382.
    11. repec:eme:aaaj00:09513570810907438 is not listed on IDEAS
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    Cited by:

    1. Ian Clark & Chris Lawton & Clifford Stevenson & Tom Vickers & David Dahill, 2022. "A ‘place-based’ approach to work and employment: The end of reciprocity for ordinary working families and ‘giggers’ in a place," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 43(2), pages 634-657, May.
    2. Chris Rees & Michael Gold, 2020. "Re‐connecting capitalism: prospects for the regulatory reform of the employee interest in UK takeovers," Industrial Relations Journal, Wiley Blackwell, vol. 51(6), pages 502-516, November.

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