SCS investors empty-handed
Published Date:
04 July 2008
SHAREHOLDERS in struggling furniture chain ScS Upholstery are set to be left empty-handed after the group was placed in administration yesterday and its trading arm sold to a private equity firm.
The Sunderland-based company said it was "unlikely" investors would receive a pay-out for their shares under the rescue deal.
But 1,300 jobs will be saved by the sale of its trading arm to Parlour Product Holding, an affiliate of US-based buyout firm Sun Capital Partners.
Under the deal, ScS's 96 stores remain open, with administrators confirming it will "business as usual for employees, customers and suppliers".
The full article contains 106 words and appears in The Scotsman newspaper.
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Last Updated:
03 July 2008 8:56 PM
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Source:
The Scotsman
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Location:
Edinburgh
