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
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