Optical Express agrees debt deal

Optical Express Group chairman David Moulsdale has agreed to a ‘significant’ investment in the company he founded after talks were called to settle debts with The Royal Bank of Scotland.

A statement said Moulsdale had secured the future of the company this week by settling debt owed to the bank, and also vowing to inject working capital for future growth.

It was reported by The Scotsman that Optical Express owed RBS more than £30m but the company neither confirmed nor denied this figure, saying it was a confidential deal.

An Optical Express spokesperson added it was ‘business as usual’ for the company’s 1,800 staff in the UK and Ireland across 93 stores and 54 consultation centres.