CHIPS is down, but not out

Christopher Dring
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.

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Tags: Retail , chips , chipsworld , cva

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