Stanley Gibbons mulls sale option after suitor walks
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Shares in the firm rocketed on Friday after it announced the approach by private equity firm Disruptive Capital, but slumped today on investor disappointment after the suitor said it was now “not making an offer” for the firm.
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Hide AdInstead, Stanley said it had it begun a strategic review aimed at unlocking “long-term value”, which could include a sale of some or all of the group.
The company said it was now considering all options open to it, adding: “Following a complete overhaul of the board and the executive leadership last year, the company has now been comprehensively restructured.
“During this time the new board has successfully reduced annualised operating costs by over £10 million and announced disposals totalling £6.3m.”