Optical Express Saved by founder/CEO David Moulsdale

ROTFLMFAO

www.opticianonline.net/Articles/2013/08/...s+on+laser+quest.htm

For me, Moulsdale's best two soundbites:
"Ophthalmology and optometry are not commodities and people should always take great care with their sight."
Really David?!

"We believe that the laser eye surgery market in the UK and Ireland could decline further in 2014."
No doubt about that thanks to OERML

Curiouser & curiouser!

www.thesundaytimes.co.uk/sto/business/Re...-standard-2013_08_04

"THE rescue of Optical Express was secretly backed by Sir Tom Hunter, once considered Scotland’s richest man.

Hunter put up some of the money that enabled the founder, David Moulsdale, to hang on to the optician and laser eye surgery chain after Royal Bank of Scotland threatened to seize control. The bank, which had already lent £30m, became concerned that the business was spiralling out of control after Moulsdale asked for an emergency loan to pay wages.

Hunter, whose fortune was ravaged by the financial crisis, is understood to have lent Moulsdale roughly half the money needed to buy out RBS. It is thought the bank’s loans were acquired for a fraction of their face value."

"Those tough trading conditions saw a subsidiary called Optical Express (Southern) put into administration in October with the loss of 40 stores."

Dear Mr Mouldsale, please explain how it is that your 123Leeds/OE Southern patients left with damaged eyes are fed bull*** that you are in administration yet you are still trading?!

www.heraldscotland.com/business/company-...t-completed.21680541

www.heraldscotland.com/business/company-...t-completed.21680541

Let's hope RBS & government are listening to MBE campaigners who have made their feelings known wherever possible today :whistle:

Don't be fooled, Moulsdale was in control all the way through his latest game.

Stephen Hannan also overheard mentioning OE have a flashy brand new Glasgow HQ - what have the RBS got to say about this?

Foul deeds will rise!

If RBS have seen this site I think there's no way they'd want to keep extending finance to OE because 'the writing's on the wall'.

RBS is owned by the taxpayer - you and I take the loss !!!
RBS should consider in both the taxpayers' and the public's interest and seize control of the company.

"David Mousdale has bought all the debt that the firm owes to the Royal Bank of Scotland and injected more money into the High Street chain.

The bank had refused to lend Optical Express any more money.

The Glasgow-based firm said it was now in a "highly secure position for continued growth".

Optical Express - which has about 93 stores and 54 consultation centres - owed more than £30m to RBS and asked for a further loan in order to pay staff, according to the Sunday Times.

The largely state-owned bank refused and threatened to seize the firm and sell it to recoup its debts.

"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," a spokesman for the company said."
www.bbc.co.uk/news/business-23395511

Who will fund the RBS loss - the same people who are footing the bill when OEs damaged patients have to seek help from the NHS!!!