CHIPS is down, but not out

CHIPS has closed all of its company-owned stores today.

However, the company has denied it is in administration and will issue a statement clarifying the situation later today.

The development only affects its 12 company-owned stores. The firm’s 14 franchised outlets are unaffected by any developments at Chipsworld ltd.

We are not in administration but we are doing some bits and pieces,” said joint-MD Don McCabe. I am in meetings right now to try and sort some things out.”

Franchises are not affected. Shops are shut but we are not in administration.”

Chipsworld ltd entered into a CVA before Christmas after running up significant debts with HMRC. The chain has been in operation for 24 years.