Findel decides to keep Kitbag
Home shopping specialist Findel has announced that it has decided to keep its sports retailing business Kitbag following a strategic review.
In a statement, the company said it was in the best interests of all stakeholders to continue Kitbag's development as part of the Findel group.
David Sugden, Findel executive chairman, said: “Kitbag has delivered a substantial recovery in its underlying operations and contract base after the renegotiation of legacy contracts, and has started to capitalise on the significant international growth opportunities open to the business. As part of Findel we are confident that Kitbag will continue to build on the recovery to date."
Findel said it would give further details of the ongoing plans for its two larger businesses, Express Gifts and Findel Education, together with plans for Kitbag, when it announces its full year results next month.
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