TPMS Closure Notice

RNS Number : 9674Y

Cropper(James) PLC

05 January 2011

 



5 January 2011

James Cropper PLC ("the Company")

THE PAPER MILL SHOP COMPANY LIMITED ("TPMS")

Following four years of losses and despite the best efforts of The Paper Mill Shop management team to bring this subsidiary back to profitability, the Board of James Cropper PLC has taken the decision to close and exit all remaining TPMS retail outlets by 31 March 2011.

It is anticipated that TPMS will incur a loss, including provision for all closure costs, of approximately £1.2 million in the current financial year.

TPMS's internet business, papermilldirect, will continue to trade but will become a profit centre within James Cropper Speciality Papers Limited and will focus increasingly on a paper-based offering.

ENDS

Enquiries:
Alun Lewis, Chief Executive	Neil Baldwin, Director - Corporate Finance
John Denman, Group Finance Director	Corporate Advisory & Broking
James Cropper PLC (AIM:CRPR.L)	Brewin Dolphin
Telephone: [phone]	Telephone: [phone]
www.cropper.com

 

END

 

 

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