The founder of Optical Express has stepped in to secure the future of the company.
David Moulsdale announced that he has bought all the debt the firm owes to the Royal Bank of Scotland (RBS), saving 1,600 jobs in the UK and Ireland.
It was confirmed by the businessman that he has also injected more money into the high street chain, which carries out laser eye surgery.
A spokesman for the company said it was expected the transaction will be completed this morning (July 22nd), reports BBC News.
"David has agreed to acquire the entire debt owed to RBS by Optical Express and will inject significant working capital into the group, positioning it in a highly secure position for continued growth," he said.
Optical Express also offers dentistry and cosmetic surgery and operates in the US and the Netherlands as well as in the UK.
RBS is currently part-owned by the UK taxpayer, but the government recently confirmed it is looking into selling its shares in the bank.
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