Travel money firm Travelex has been saved from collapse, but 1,300 jobs will be lost in the UK, administrators have announced.
In a statement on Friday, PriceWaterHouseCoopers (PwC) said the company has secured an £84million rescue package that will keep it afloat for the foreseeable future.
This is in the form of a pre-pack administration sale - the term given when a company agrees to sell its assets to a buyer before appointing administrators to facilitate the sale.
The purchaser is Travelex Acquisitionco Limited, a special purpose vehicle controlled by the Noteholders to the global Travelex Group.
Read more on mirror.co.uk
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