Optical Express News Update: Optical Express Anger Landlords
Optical Express News Update: Optical Express anger landlords. The Glasgow based Optical chain has incurred the wrath of a band of major Scottish landlords.
The trouble has arisen over controversial plans for restructuring that are to be undertaken by the optical group. Initially David Moulsdale who runs the Glasgow based Optical Express called in the administrator for the DCM Optical Clinic at Begbies Traynor. Immediately after that it bought back sixteen of the nineteen stores in the complex under the umbrella of a pre-pack deal.
This followed a move a year ago in which Optical Express did the same thing in calling in the administrators at another subsidiary that was operating eighty stores. On that occasion the group bought back forty of the stores and the stores that were not bought were closed down.
This will come as a blow to the local economy of that area as well as affecting the jobs of people who work there. The fact that some of the stores have been brought back however, does mean that some jobs will be saved and in a difficult financial situation and at a time where everyone on the high street is facing a challenge, some will see this as the best way forward, even if landlords deprived of their rents do not.
Optical Express News Update
This time however the landlords involved are not taking the news lying down and the British Property Federation has sent correspondence to Begbies Traynor to demand a full explanation of the latest administrative move that will leave them being owed rent for the past three months. This is because the administrative move has come at a time when the next quarters rent is due and will not now be paid.
Optical Express however were unrepentant and a spokesman commented that if the group had not taken the course of action that they had the subsidiary business as it existed and in its entirety could not have been sustained. The spokesperson went on to say that the action taken had safeguarded many jobs and had also protected many supplier contracts.
There is no doubt that the financial climate and the tough trading conditions on Britain’s high streets are not helping and that groups like Optical Express will do whatever they think is necessary to survive. There are likely to be many unusual tactics employed as traders struggle to survive the recession.
Contact the Optical Express customer service team for more information on your local store.
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