Time Computers in ‘urgent refinancing talks’
Time Computers is in "urgent refinancing talks with HSBC", according to Sunday Business.
The Lancashire-based system builder/retailer has been knocked sideways by falling prices and over-expansion on the retail side, according to the paper.
It quotes a source "close to the discussions" with HSBC who describes Time's status as a "blip rather than a going concern issue". The company needed short-term support to get it through a difficult climate, the source said.
Time operates 180 stores in the UK and has more than 2000 staff. It consistently performs poorly in Which? user satisfaction surveys. ®