Laser eye surgery firm
Optical Express has been saved from collapse by its founder, preventing
the loss of 1,600 jobs in the UK and Ireland.
David Moulsdale has bought all the debt that the firm owes to
the Royal Bank of Scotland and injected more money into the High Street
chain.The bank had refused to lend Eye Treatment Optical Express any more money.
The Glasgow-based firm said it was now in a "highly secure position for continued growth".
The intervention by chairman Mr Moulsdale, who founded the firm in 1991, has saved Optical Express from being another High Street retail casualty, following the high-profile deaths of Comet, Jessops, Clinton Cards and others in recent years.
Optical Express - which has about 93 stores and 54 consultation centres - owed more than £30m to RBS and asked for a further loan in order to pay staff, according to the Sunday Times. Continue Reading...
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