Supermarket chain owners could be forced to inject cash to retain control



Royal Bank of Scotland and HSBC, the company’s senior lenders, have ­instructed accountants Grant Thornton to undertake an Independent Bank Review.
An IBR can often lead to the owners of a company having to make a one-off cash injection to retain independence or the banks eventually taking control.
It was ordered after Booths came close to breaching the terms of its loans.
The chain, which has 31 shops around the North West including stores in Ulverston, Windermere and Kendal, made a £6.3m loss in 2016 compared to a £1.1m profit the previous year.
Edwin Booth, a fifth generation family... read more

 
31 July 2017 in Regional North West , Views: 54
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