Sanctuary Group Considers Break-Up Following Losses
January 26, 2007 at 11:13 AM (PT)
The U.K.-based SANCTUARY GROUP is considering putting some of its businesses, which include indie label ROUGH TRADE, on the block after it reported losses due to refinancing and restructuring costs. The company had a full-year pre-tax losses of £70.1 million, compared with a restated loss of £146.5 million last year. The group does not expect a return to profitability until 2008.
"The board is currently considering a number of opportunities that may enable it to realise value from the disposal of parts of the group," the company said in a statement. "At the same time, opportunities for acquisitions or business combinations, which would improve profitability and enhance shareholder value, will be considered."