UK - Sun Capital on verge of rescue deal for SCS Upholstery

If the parties come to an agreement, the deal is expected to be announced in the this week. It is believed that any agreement requires the approval of Barclays, which provides the credit facilities that many SCS customers rely on to finance their purchases. If the deal cannot be agreed, SCS could go into administration. The market value of SCS is £2.2m, a fraction of its all-time high of around £190m less than two years ago.

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