Optical Express News Update: Founder Saves Optical Express
Optical Express News Update: Founder Saves Optical Express. The laser eye surgery company has been reported to be more than thirty million pounds in debt.
The founder of Optical Express has saved it from closure as the company faced mounting debts and almost certain demise. This would have led to the loss of some one thousand six hundred jobs in the UK and in Ireland. In a last minute rescue the man who originally founded the company, David Moulsdale has bought all the debt that is currently owed by Optical Express to the Royal Bank of Scotland and has also bolstered funds by injecting further funds into the company.
The rescue has now put the firm into a good position to ensure that it will continue to grow. Mr Moulsdale’s timely intervention has saved the company that he initially set up in 1991 from being the latest in a long list of high street casualties. Other high profile retailers that have fallen victim to the recession with the demise in recent years of high street staples have been, Clinton Cards, Jessop and Comet.
Optical Express has around ninety-three stores nationwide as well as fifty-four centres for consultation had got into severe problems with their multi million pounds debt to RBS. They were in the unenviable position of having to seek more money as a loan just to pay the staff. The situation had deteriorated to the extent that the bank, that is largely state owned had refused the additional loan and put the company on notice that it would seize the firm with a view to selling it to recoup the money that it was owed.
Fortunately the company’s founder arrived with his offer to buy the debt and to ensure that enough working capital was injected to give Optical Express a real future and the chance to continue to grow and gain market share. Optical Express, while it is primarily known for providing optical services in the form of laser eye surgery, also has a stake in the health industry in other services that include dentistry and also some cosmetic surgery. The company operates outside to the UK in the United States of America and in the Netherlands.
<h2>Optical Express News Update</h2>
It is certainly nice to see a success story on the beleaguered post recession high street and for those who have benefited from or plan to benefit from laser eye surgery it will be very good news indeed.
5,654 total views, 3 views today