THE founder of CPP has been given longer to say whether he intends to buy the struggling York card protection business.
Hamish Ogston was originally given a deadline of 5pm today to announce his firm intention either to make, or not to make, an offer.
But at the request of CPP, the deadline has now been extended until 5 pm on May 31, and this could be extended further if CPP wants.
Mr Ogston made an initial offer to buy the business for 1 penny per share - about £1.7 million.
CPP, which employs nearly 1,000 people at its base in Holgate, eased its financial problems last week by agreeing the sale of its US business.
The troubled firm said the sale to AMT Warranty Corp for £26.1 million represented the only viable means of enabling the group to move forward.
Its lending agreements were extended until September, removing uncertainty around the company’s short-term future.
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