Sandie Seward
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Robert Dyas.Last-ditch talks involving the taxpayer-backed Lloyds Banking Group were under way on Saturday night to avert the collapse of Robert Dyas, the high street hardware chain, in a bid to salvage more than a thousand jobs.
Change Capital Partners, the private equity firm which owns Robert Dyas and which is likely to see its investment wiped out as part of any restructuring, is locked in discussions with Lloyds and Allied Irish Bank (AIB), the chain’s principal lenders, about a new financing deal.
People close to the talks said on Saturday that unless a deal could be reached imminently, Robert Dyas’s owners would have no choice but to place the company into administration, jeopardising up to 1,200 jobs.
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