(AXN) Alexon Group
Summary
|
|
|||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||
| Headline | Source | |||||
|---|---|---|---|---|---|---|
|
|
||||||
| 29-09-11 | RNS |
|||||
|
RNS Number : 1982P Alexon Group PLC 29 September 2011
Alexon Group plc (the "Company" or, together with its subsidiaries, the "Group")
Appointment of Administrators
Following this morning's announcement regarding the suspension of the listing and trading of the Company's ordinary shares, the Board is now providing a further update.
As previously announced, the Group has been operating with limited headroom against its existing facilities and has a clear requirement for additional funding in the short term as it enters the seasonal peak in working capital requirements. Against this backdrop, the Board has been actively exploring, in conjunction with the Company's lenders, all options and proposals to address this requirement for additional funding, with a view to realising value for the benefit of all stakeholders. These options have included a possible offer for the Company and various proposals to acquire one or more of the Group's brands and/or provide alternative debt financing from trade and financial parties.
Unfortunately these options have failed to reach a satisfactory conclusion in the time available and, following discussions with the Group's lenders, it became clear that the Group was unable to continue trading as a going concern. As a result, the Board appointed Will Wright, Colin Haig and Howard Smith of KPMG as administrators to the Company this morning.
In addition, the Company today confirms that it is no longer in discussions regarding an offer for the issued share capital of the Company and that it is no longer in an offer period.
The Board understands that the Administrators have today sold the Group's business to Sun Capital Partners LLP, securing continuing employment for the Group's staff.
Enquiries:
Brunswick Group LLP 020 7404 5959 Simon Sporborg / Zoe Bird
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||
| 29-09-11 | RNS |
|||||
|
RNS Number : 1709P Alexon Group PLC 29 September 2011 Alexon Group plc ("Alexon", the "Company" or, together with its subsidiaries, the "Group")
Statement re: Suspension
On 19 September 2011 the Board of Alexon announced that, whilst the Group was exploring its options to put in place a more appropriate capital structure, the Group was currently operating with limited headroom against its existing facilities and accordingly that there was a clear requirement for additional funding in the short term as it enters the seasonal peak in working capital requirements. Since that date, the Board of Alexon has continued to explore thoroughly all available options to address this requirement. However, the Board now believes that it is increasingly unlikely that a solution to the funding issues which the Group faces can be secured in the necessary timeframe. Accordingly, the Company has requested a suspension of the listing and trading of the Company's ordinary shares with immediate effect, pending clarification of the Company's financial position. A further announcement will be made in due course.
Enquiries: Brunswick Group LLP 020 7404 5959 Simon Sporborg/Zoe Bird
This information is provided by RNS The company news service from the London Stock Exchange More |
||||||
| 29-09-11 | RNS |
|||||
|
RNS Number : 1703P Official List 29 September 2011 NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST
29/09/2011 7:30am
TEMPORARY SUSPENSION
ALEXON GROUP PLC
The Financial Services Authority ("the FSA") temporarily suspends the securities set out below from the Official List effective from 29/09/2011 7:30am at the request of the company pending clarification of the company's financial position:
This notice has been issued by Listing Applications - 0207 066 8333 Option 3. This information is provided by RNS The company news service from the London Stock Exchange More |
||||||
| 27-09-11 | RNS |
|||||
|
RNS Number : 0162P Alexon Group PLC 27 September 2011
27 September 2011
Alexon Group plc
The Board of Alexon Group plc ("Alexon" or the "Company") announces that Avril Palmer-Baunack has tendered her resignation from the Company as a non-executive director with immediate effect.
-ENDS-
Enquiries:
Brunswick Group LLP 020 7404 5959 Simon Sporborg/Zoe Bird This information is provided by RNS The company news service from the London Stock Exchange More |
||||||
| Result Pages: 1 | ||||
| Date/Time | Subject | Author | ||
|---|---|---|---|---|
| 10-09-11 | ||||
|
|
||||
|
|
||||
|
Bargain hunters bid for embattled Alexon group
By James Thompson Saturday, 10 September 2011 http://www.independent.co.uk/news/business/news/bargain-hunters-bid-for-embattled-alexon-group-2352257.html Alexon, the embattled women's fashion group, has moved closer to a sale after numerous parties registered an interest in the business. The group, which operates six brands, including Kaliko, Ann Harvey, Dash and Eastex, issued a profits warning on Monday and said it had received takeover offers, as it explores a number of options for a "more appropriate capital structure". The parties that have held talks with Alexon recently include Rutland Partners and Endless, the private equity firms that specialise in turnarounds, and Hilco, the retail restructuring specialist. Jacques Vert, the listed fashion retailer that also targets older women, is also among the suitors. However, it is unclear if any of the parties have registered an interest in acquiring Alexon in its entirety. The group has 78 high street shops and 1,071 concessions including in department stores overseas. One unnamed suitor has made a bid for the Dash business. Indeed, sources believe one scenario is that Alexon could be broken up by the sale of certain brands to interested parties. Alexon confirmed on Thursday it had appointed a restructuring team from KPMG to help it examine a range of options and ensure the "best outcome is achieved". However, Alexon only had a moderate amount of £8.7m debt as of 29 January and three of its brands registered positive like-for-like sales in its last reported period. All parties declined to comment. |
||||
| 06-09-11 | ||||
|
|
||||
|
|
||||
|
One of the worst things a company can admit is they are actively looking for a buyer of the full share capital. What this indicates to me is that the companies revised cash flow forecast indicates that the company will be unable to meet future liabilities and is unable to obtain sufficient finance to meet these liabilities.
Therefore the directors have concluded that it is in the best interest of shareholders, creditors and staff that the company is sold. In all likelihoods this is unlikely to happen as the potential buyer can just wait for the company to go into administration and pick up the pieces for next to nothing. |
||||
| 19-08-11 | ||||
|
|
||||
|
|
||||
|
Our partner Aminex drill soon !!
Your Favourite Potential Multibaggers http://www.fool.co.uk/news/investing/2011/08/19/your-favourite-potential-multibaggers.aspx BY David Holding Published in Investing on 19 August 2011 |
||||
| 29-04-11 | ||||
|
|
||||
|
|
||||
|
Turnaround plan works for Alexon
Published Date: 29 April 2011 By Peter Cripps Womenswear retailer Alexon yesterday announced it had returned to profit and predicted its turnaround plans would help it withstand the gloom on the high street. The owner of brands including Ann Harvey, Dash and Kaliko recorded bottom-line pre-tax profits of £86,000 in the year to 29 January, compared to losses of £14.3 million the previous year when the business was hammered by the recession. The return ADVERTISEMENT to the black comes after the group raised £20m from shareholders and closed 51 outlets as part of its turnaround programme launched in March 2010. It also refurbished stores and opened new outlets in better locations, improved its accessory and footwear ranges and grew its online sales. The group, which has 83 stores and 847 concessions in the UK, said current trading was encouraging after same-store sales enjoyed a 2.9 per cent uplift in the past 12 weeks, after a decline of 3.4 per cent in the previous year. Alexon warned that its margins had been squeezed in recent weeks after it was forced to put on more discounts to attract cautious consumers. But chief executive Jane McNally said there was "a real opportunity to further increase profitability" through the turnaround plan. Profits would have been £1.6m higher if not for the snow in December, which disrupted trading at many of its outlets and hit its customers, who tend to be older. Alexon, which has 152 outlets in Europe, said its spring and summer ranges had been well received. http://business.scotsman.com/business/Turnaround-plan-works-for-Alexon.6759538.jp |
||||
|
|
||||
They have not been approved or issued by Interactive Investor Trading Limited.
Editor's Pick:
Am I in danger of losing half of my money?Editor's Pick:
Cruise-onomics: Is the stock as cheap as the trip?Editor's Pick:
AIM diamond miners refuse to sparkleEditor's Pick:
Stock to Watch: Imperial TobaccoEditor's Pick:
George Godber’s AIM stock picks

