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Travelex cut 1300 jobs

Foreign exchange firm Travelex has struck a deal to stay afloat, but with the loss of more than 1,300 jobs in the UK.
Administrators PwC said a cyber-attack followed by the Covid-19 crisis had "acutely" hit the firm.
Travelex was held to ransom by hackers in January after the cyber-attack forced it to turn off its systems.
PwC said that a so-called "pre-pack" administration deal had been reached which had saved 1,800 UK Travelex jobs.
This is where a firm sells all or some of its assets to a pre-determined buyer and appoints administrators to do so.
PwC said parts of the firm had been bought by a newly created company controlled by its lenders.
That includes the parts that deal with supermarkets and large corporate and banking customers, and some of its airport business.
However, the High Street shops and airport branches that were closed during lockdown will not reopen.
It said the deal had delivered £84m of new money and substantially reduced the business's debts.

https://www.bbc.co.uk/news/business-53684484
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