ScS shares suspended as talks held

Updated 09.11 Mon Jun 23 2008
Keywords: slowdown, sales, credit crunch, retailer, furniture, ScS Upholstery

Shares in struggling furniture retailer ScS Upholstery have been suspended as the company thrashes out a rescue deal.

Sunderland-based ScS has been trying to secure new working capital after a sales slump driven by the consumer spending slowdown.

Sunderland-based ScS has been trying to secure new working capital after a sales slump driven by the consumer spending slowdown

It said it has received an approach for the entire share capital of its sole trading subsidiary.

The firm said the deal would result in "negligible value" for the shares of parent ScS Upholstery.

It added: "As a result, the directors of ScS have requested a suspension in the trading of the company's shares with immediate effect."

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