Money: Links of London hoping for rescue offer as it rushes to find a buyer - PressFrom - United Kingdom
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MoneyLinks of London hoping for rescue offer as it rushes to find a buyer

09:50  23 august  2019
09:50  23 august  2019 Source:   cityam.com

Mother's voice pierces Malaysia jungle in search for girl

Mother's voice pierces Malaysia jungle in search for girl SEREMBAN, Malaysia (AP) — Malaysian rescuers stepped up their search Friday for a 15-year-old London girl who vanished from a nature resort six days ago by playing voice recordings of her mother and brought in members of an elite commando force as they combed the hilly forest terrain. "Nora darling, Nora, Nora, Mummy's here," the voice of Meabh Quoirin rang out through loudspeakers carried by rescuers, piercing the jungle silence. The family of Nora Anne Quoirin discovered her missing Sunday morning from the Dusun eco-resort in southern Negeri Sembilan state.

Links of London , one of Britain's best-known jewellery chains, is racing to secure a buyer within days‎ as its crisis-hit owner seeks to offload the business. Sky News has learnt that Links of London 's owner, the troubled Greek company Folli Follie, has asked potential buyers to table offers next week.

Links of London Ltd. Hope . Narrative.

Links of London hoping for rescue offer as it rushes to find a buyer © Getty

The future of Links of London is reportedly hanging in the balance this week as the British jewellery chain rushes to find a buyer.

The embattled group’s owner is on the hunt for a rescue offer by next week, according to Sky News, with sources telling the broadcaster that it was “almost inevitable” any sale would happen through a pre-pack administration or that a post-transaction restructuring would be required.

Links of London hoping for rescue offer as it rushes to find a buyer © Reuters

Big Four accountancy giant Deloitte is managing the sale process for Folli Follie, the Greek owner of the retail chain known for its silver bracelets.

In recent months Links has been tipped as one of a string of retailers mulling a company voluntary arrangement (CVA), a controversial insolvency process used to slash rents and close unprofitable stores.

London teen missing in Malaysia isn't independent: parents

London teen missing in Malaysia isn't independent: parents SEREMBAN, Malaysia (AP) — The parents of a 15-year-old London girl who mysteriously disappeared from a Malaysian resort a week ago said Saturday that she wasn't independent and had difficulty walking, in new details to support their conviction that she was abducted. A massive search operation has been underway for Nora Anne Quoirin, who was discovered missing by her family last Sunday morning from the Dusun eco-resort in southern Negeri Sembilan state. Police believe the teen climbed out through a window in the living room that was left open and was still in the vicinity of the resort.

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And although there’s still hope that the company will find a buyer , it hasn’t come soon enough to continue operating in what has become an incredibly competitive — read: cash intensive — market, with heavily “For the last 8 weeks, we’ve desperately tried to find solutions to keep the business alive.

Related: Famous CEOs’ eureka moments (Lovemoney)

The upmarket brand has pulled out of the US market, shutting its 15 stores across the pond as part of a turnaround effort to stave off insolvency.

Its crunch efforts to find a buyer come after a tough 12 months for the wider retail sector, which has witnessed a number of CVAs as firms struggled with rising costs and more competition.

Deloitte declined to comment, while Links of London did not respond to a request for comment at the time of publication.

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