Travelex shuts UK foreign exchange bureaus, starts talks on funding

Travelex shuts UK foreign exchange bureaus, starts talks on funding

Foreign exchange company Travelex on Friday said it has shut all its UK foreign exchange bureaus for around eight weeks due to the coronavirus outbreak and started discussions with its stakeholders for continued access to funds.

Signage is seen above a Travelex ATM at Manchester Airport in Manchester
FILE PHOTO: Signage is seen above a Travelex ATM at Manchester Airport in Manchester, Britain January 8, 2020. REUTERS/Phil Noble

REUTERS: Foreign exchange company Travelex on Friday said it has shut all its UK foreign exchange bureaus for around eight weeks due to the coronavirus outbreak and started discussions with its stakeholders for continued access to funds.

The company said its stakeholders raised concerns about the difficulties faced by its UK-listed owner Finablr , adding there is no longer an overlap between the boards of the two firms, reflecting independence from Finablr and its shareholders.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta)

Source: Reuters

Bookmark