Whittard of Chelsea, the 122-year-old coffee and tea specialist, is understood to be on the brink of administration - putting up to 500 jobs at risk, The Independent can exclusively reveal.
It is understood that the Baugur-backed 127-store retail chain could be placed into administration as early as this afternoon. It is lined up Ernst & Young as administrator, but it is not clear if the retailer will do a pre-pack application or a full-blown administration. In a pre-pack, a company is typically put into administration and swiftly bought out of it by new owners with reduced liabilities, such as on unprofitable stores or retail stock. A FURTHER 800 JOBS IN BRITAIN'S car industry were put at risk yesterday after Toyota Motor, the greatest example of Japan's postwar economic ...
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