And it would be ridiculous to believe gossip that David Moulsdale skimmed millions from Optical Express over the years and put it in his off shore accounts in the Cayman Islands. As if an honest and reputable businessman would do such a thing!
About to suggest that OE's damaged patients contact Sir Tom Hunter for help I discovered that his wife, Lady Marion Agnes Hunter, has her own Trust, which funds charities that help those with visual impairments!
I wonder if Lady Agnes would consider supporting My Beautiful Eyes/OERML
• Lady Marion Agnes Hunter is married to Sir Tom Hunter
• Paul Davidson is on the board of West Coast Capital (see 7 May post)
I hope that some of you will understand this complex picture better than I do!
On a simplistic level, because Pacific Shelf 1741 Ltd has a bond, floating charge and debenture over OE's assets, presumably this gives the company (ultimately Sir Tom Hunter) total control over Optical Express should they want it.
"Hunter put up some of the money that enabled the founder, David Moulsdale, to hang on to the optician and laser eye surgery chain after Royal Bank of Scotland threatened to seize control. The bank, which had already lent £30m, became concerned that the business was spiralling out of control after Moulsdale asked for an emergency loan to pay wages.
Hunter, whose fortune was ravaged by the financial crisis, is understood to have lent Moulsdale roughly half the money needed to buy out RBS. It is thought the bank’s loans were acquired for a fraction of their face value."
Speculation was rife when Sir Tom Hunter bailed out David Moulsdale in August 2013, and my attention was recently directed to information which might explain more about Sir Tom’s interest in Optical Express.
"West Coast Capital is a hands on investor, working closely with management teams, adding value without second guessing those who know more than us.
Previous deals include public to private transactions, venture capital investments and growth capital, together with some distressed debt opportunities which came along.”
I’ll be posting more on this later.
Meanwhile, rumour suggests that OE's Birmingham store is closing soon, with more closures expected to follow.
Perhaps high street rents are no longer within OE's budget
With Scottish politicians like Alex Salmond and Gordon Brown on his side, CEO David Moulsdale tries to paint a respectable face on Optical Express and present it as something we all know it's not, a caring company!
The Wee Shugster (aka Hugh Kerr, General Ops Director) arrived in Japan yesterday with a team of Optical Express senior staff, including HR Advisor Fiona Morton, to close the remaining five Kobe Kanagawa stores, strip their assets (allegedly) and tiptoe out of Japan before anyone notices.