Findel has catalogue sell-off on its radar
Education supplies company Findel is considering a sale of its Express Gifts home shopping business under a review of the listed group.
This is one of a number of options under consideration as part of a shake-up, which was announced by the company last month.
The division - which owns brands including Studio, Ace and Health & Home - has sales of £220m and profits of about £20m.
Home shopping rival N Brown is tipped to be in pole position to buy the business, but no formal talks have been held.
The sale could become key to Findel's plan to plug the hole in its finances. The firm declined to comment.
Last month it said it had debts of £310m and losses in the year to April increased by a third to £76.1m after a failed acquisition spree.
That and accounting irregularities have left the share price 95% lower than two years ago.
The shares were 6.93p on Friday, valuing the business - which also includes healthcare and medical supplies divisions - at £34m.
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