Eleventh-hour takeover saves sandwich chain

Hundreds of jobs at budget sandwich chain Benjys were saved today after the company was hauled from the brink of collapse thanks to a speedy takeover.

The firm, which has 64 stores around the UK, was placed into administration earlier today after it began to feel the pinch of difficult trading conditions.

But minutes later 550 workers breathed a sigh of relief with news the company had been sold to private equity investor Hamilton Bradshaw for an undisclosed fee.

Administrator Nick Edwards said: “Conclusion of this sale is a good result for the administration and provides a stable platform for the business to prosper in the future.”

It is not known how much the company owed, but its problems had been compounded by ongoing legal action between the firm and a number of its franchises.

In June chairman Richard Raworth stood down amid concerns over the future of the chain following losses and ballooning debt.

But Piers Hooper, spokesman for Hamilton Bradshaw, said employees, suppliers and franchise holders should now feel positive about the change and prospective development in the brand.