Jobs saved as butch­ers chain bought

Birmingham Post - - NEWS -

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.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.