Clarks saves jobs and avoids store closures in £100million rescue deal

Clarks’ shareholders have approved a partnership with Asian private equity firm LionRock Capital, which will now acquire a majority stake in the business for £100m.
The rescue deal is expected to be completed in the new year with the Clark family remaining invested in the business.
Clarks was founded in 1825 by brothers Cyrus and James Clark in Street, Somerset.
But like many High Street brands,…