Jobs have already been cut and teams restructured as the high street giant struggled with cash due to a tough economic climate and falling sales.
Mr Jackson said: “While we can confirm we’ve had a significant level of interest, including indicative offers that we believe would meet all our financial criteria to recapitalise the business, at present, we don’t today have an offer that provides the necessary liquidity in the time we have available, given the mounting cash pressures we’re faced with.
Source: Law Daily Report (lawdailyreport.net)
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