Administrator spends own cash on retailer

Link: Business recovery stories

David Mond of accountants Hodgsons has invested £100,000 of his own money into the company, and has persuaded a number of business contacts and friends to do the same, according to the Financial Times.

It reports that Julian Richer, the man behind hi-fi chain Richer Sounds, is one of the investors.

The deal should secure the jobs of 345 Fads employees across 53 stores.

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