Business
TPMS Closure Notice
TPMS Closure Notice.
About this update from James Cropper Plc
[{"type":"text","content":"\n RNS Number : 9674Y Cropper(James) PLC 05 January 2011 \n \n\n \n5 January 2011\n \nJames Cropper PLC (\"the Company\")\n \nTHE PAPER MILL SHOP COMPANY LIMITED (\"TPMS\")\n \nFollowing 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.\n \nIt is anticipated that TPMS will incur a loss, including provision for all closure costs, of approximately £1.2 million in the current financial year.\n \nTPMS'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. \n \nENDS\n \n\n\n\n\nEnquiries:\n\n\n\n\n\n\n\nAlun Lewis, Chief Executive\n\n\nNeil Baldwin, Director - Corporate Finance\n\n\n\n\nJohn Denman, Group Finance Director\n\n\nCorporate Advisory & Broking\n\n\n\n\nJames Cropper PLC (AIM:CRPR.L)\n\n\nBrewin Dolphin\n\n\n\n\nTelephone: +44 (0) 1539 722002\n\n\nTelephone: 0845 213 4726\n\n\n\n\nwww.cropper.com\n\n\n\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCGMGGMDKLGMZM \n ","length":3605,"tagName":"div"}]