Jobs saved as butchers chain bought
HUNDREDS of jobs have been saved from the chop after a butchers chain was snapped up by a new investor.
Two hundred and forty jobs at Crawshaw Butchers – which has a fresh meat factory in Dudley Street, West Bromwich – have been secured after the company was bought by entrepreneur Tom Cribbin for £1.4 million.
The Rotherham-based group confirmed on Monday it had sold its last remaining 19 stores. The rescue comes after Crawshaw closed 35 stores and one distribution centre in November, resulting in the loss of 350 jobs.
The collapse of the company, which had a period of rapid expansion, came after several years of financial losses.
According to the group’s latest set of results, for the six months to July 29, the group posted revenue of £21.6 million and a pre-tax loss of £1.7 million.
Charles King, joint administrator from EY, said: “This sale represents the best outcome for creditors, employees and shareholders of the group. The team were able to stabilise the business in order for a sale to occur and we received substantial interest from over 50 interested parties.”