Mallett- a reprieve?
The longest lived member of the retail trade, with roots extending well back into the 19th century, surrenders its independence through acquisition by the Fine Art Auction Group. Certainly, with Mallett’s operating statement so awash with red ink it resembled the floor of an abattoir, it is a wonder that they were able to continue to carry on in business. Their capital structure was replenished through sales of premises locations in the West End and a number of stock reduction sales (‘rationalizing inventory’ this was called- doubtless a less pejorative …
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