GENERAL MERCHANDISE NEWS
The Officers Club deal saves jobs
24 December, 2008 | by Retail Bulletin
TimeC 1215 Ltd which is backed by David Charlton, chief executive of The Officers Club, has purchased 118 of the firm’s 150 stores.
“We are very pleased to be able to secure this deal and protect the employment of over 900 people in the stores and head office,” We welcome the opportunity to take the business forward and look forward to a successful future.” said Mr Charlton.
Ian Green, from PricewaterhouseCoopers in Leeds added: “We are delighted to be able to announce this sale, resulting in the preservation of over 900 jobs, particularly at this challenging time in the retail sector. “The sale to TimeC 1215 Limited represents a significantly better result for the creditors of the companies than any other alternative.”
