Camera retailer Jessops is to restructure - meaning that almost half of it will be owned by its biggest creditor - HSBC.
The bank will take a 47 per cent stake in the company, with pension and employee trusts owning the rest.
Jessops, which has a store in Douglas, said the reorganisation would protect 2,000 jobs.
Hospitality sector continues calls for support
DfE insists "we are listening" following talks with local businesses
Chamber of Commerce calls on gov to address immigration challenges
Lobby group wants to see visa processes streamlined
Businesses 'need two freight sailings per day'
Business Isle of Man chief exec gives evidence to Tynwald committee
Manx law firm offers support to Michael Dunlop
Company says 25-time TT winner's ties to Island 'unquestionable'
Steam Packet reports strong Q1 passenger figures
The 2024 figure represents a 21% increase
Surge in first time buyers enquiring about mortgages
Advisors dealing with 60-70 requests for meetings each week
