Smiths City sold; more than 100 jobs lost

Mon, 18 May 2020

Retail chain Smiths City Group is selling the bulk of its businesses in a $60 million deal that will see a quarter of the firm's workforce lose their jobs. Polar Capital will acquire all of Smiths City Finance and the majority of the Smiths City stores. At least seven of the group's 29 stores will be closed. The final number of stores sold depends on the agreement of lease terms and transfers. Polar Capital aims to offer employment to approximately 75 percent of Smiths City’s 465 existing staff, leaving more than a hundred employees to lo...

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