Meat entrepreneur Tom Cribbin has saved the last remaining batch of Crawshaw stores through a £1.4 million acquisition deal, subsequently saving more than 200 jobs.
The butcher retailer has confirmed that 19 of its remaining stores as well as its Hellaby production and distribution centre have been sold to Loughanure, a firm controlled by Cribbin.
READ MORE:
Two hundred and forty jobs have been saved as a result of the deal.
The news comes after Crawshaw fell into administration in October after it failed to secure emergency funding.
The collapse followed several years of financial losses.
In November, the retailer closed 35 stores and one distribution centre, resulting in the loss of 350 jobs.
Through Cribbin Family Butchers, Cribbin previously operated a chain of butchers stores in the Republic of Ireland and sold Gabbotts Farm to Crawshaw in 2015.
Crawshaw’s administrators EY are set to assess how the proceeds of the latest deal with Cribbin are to be divvied up between creditors.
Meanwhile, shares in AIM-listed Crawshaw remain suspended and its stock will be cancelled following the deal.
Click here to sign up to Retail Gazette‘s free daily email newsletter
