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Electra’s blow to struggling Vasanta
06.07.09
Private-equity firm Electra today confirmed that it has virtually written off the value of one of the country's biggest office supply groups as it tries to stave off collapse.
Electra has written down its investment in Vasanta, which employs 1400 people, by £28 million to just £1.5 million.
PricewaterhouseCoopers are standing by as potential administrators to the business if emergency funding talks fail.
