Seafolly swoops on rival days after rescue deal approved
Sue MitchellColumnist
Beachwear company Seafolly cannot afford to pay its creditors but it can afford to buy out one of its biggest rivals, swimwear brand JETS.
Less than a week after Seafolly creditors approved a rescue deal which will leave trade suppliers and landlords facing heavy losses, the company has agreed to buy JETS from womenswear retailer PAS Group, which went into administration in May.
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Sue Mitchell writes the fortnightly Window Shopping column for the Financial Review and has covered retailing for over 30 years. Connect with Sue on Twitter. Email Sue at smitchell2045@gmail.com
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