22 November 2011 – update

The group has announced that due to a deterioration in trade in the current quarter and a worsening of its cash and liquidity position, it is in talks with its banks with regard to its facilities.  The group is to delay the publication of its results for the year to 30 September, previously due on 24 November as a result.  As this is the second time the company has sought to amend its banking facilities in a month this is clearly bad news and for the time being investors should AVOID.