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Monday December 1st 2008
Land of Leather confirms takeover interest
Archived article dated Monday December 1st 2008
Land of Leather has confirmed recent press speculation this weekend that it has received a number of expressions of interest.
The company said 'These discussions are at a very preliminary stage and shareholders should be aware that there is no certainty that an offer will be forthcoming. The company has no debt and hence no requirement to pursue a sale of the business unless it realises shareholder value.'
Land of Leather also reported that total sales orders for the 3 months ended 2 November 2008 declined 47%, "against very tough pre-credit crunch comparatives." 'We expect market conditions to be challenging and uncertain for the remainder of 2008 and 2009 which includes the important January Sale period. As a result, the outcome for the financial year ending 2 August 2009 is extremely difficult to predict.'
Tagged as: land of leather
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