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Tim Parker: Struggling firms should think long-term

7 March 2014 Last updated at 12:14 GMT

Saving struggling businesses is not about cost cutting, a leading businessman has claimed.

Samsonite CEO Tim Parker, who has revived the sinking fortunes of Clarks, AA and Kwik-Fit, said long term solutions would benefit firms more.

He told BBC Radio 5 live's Wake Up to Money: "90 percent of the success of a turnaround is creating a platform for growth in the future."