Banking extension for CPP

CPP has been given a lifeline after agreeing a two week extension with its lenders to help it explore "alternative financing and strategic options".

TheBusinessDesk.com reported last Thursday how the credit card insurer's finance facilities with its lenders were set to expire over the weekend.

If no agreement was reached York-based CPP, which saw founder Hamish Ogston say he would be prepared to buy the business for £1.7m last week, was likely to have gone into administration, putting more than 1,500 jobs at risk. <... For the full story register now for free or login below...

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