Craw­shaw crash puts 600 jobs at risk

Yorkshire Post - Business - - FRONT PAGE -

Meat re­tailer Craw­shaw is to call in ad­min­is­tra­tors af­ter fail­ing to raise emer­gency fund­ing to stay afloat, putting 600 jobs at risk.

The Rother­ham-based group, which op­er­ates from 42 high street stores and 12 fac­tory out­lets, said dis­cus­sions with in­vestors to raise cash had failed and that it does not have suf­fi­cient re­sources to carry out a re­struc­tur­ing.

As a re­sult, Craw­shaw’s board has taken the de­ci­sion to ap­point ad­min­is­tra­tors with the pur­pose of seek­ing buy­ers for the group’s busi­ness and as­sets on a go­ing con­cern ba­sis.

Craw­shaw’s shares were also sus­pended from trad­ing on the Lon­don Stock Ex­change’s ju­nior AIM market.

It comes af­ter the butcher said that it was at­tempt­ing to raise eq­uity to re­store growth and prof­itabil­ity.

For the six months to July 29, the group posted rev­enue of £21.6m and a pre-tax loss of £1.7m.

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