March 25, 2020 / 7:36 AM / 14 days ago

Travel food firm SSP cuts jobs, seeks funds as sales crash

March 25 (Reuters) - British travel-food company SSP launched emergency measures to prop up its business on Wednesday, including layoffs and applying for support under the government’s coronavirus schemes, saying its business in Europe had plunged as much as 85%.

The company also said it had agreed a new 112 million pound ($132.56 million), 18 month credit facility with HSBC, Lloyds and Natwest banks, subject to it completing a new issue of shares worth roughly 20% of its share capital. ($1 = 0.8449 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; editing by Patrick Graham)

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