Bakery Services is selling its in-store bakery business to its management for £50,000.
It will become a cash shell and is raising £225,000 at 0.125p a share, against a market price of 0.2p. If the sale isn’t passed the company will cancel its Aim quotation.
Bakery Services has been quoted on Aim for more than one decade but it hasn‘t made a profit since 2001. The outlook for the business is poor. After costs, Bakery Services should have cash of £165,000. It will look to buy outsourcing businesses.
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