Majestic Wine shares plunge after company suspends dividend

Sale of 200-store chain could slip into 2020, although talks are at ‘advanced stage’

Shares in Majestic Wine have fallen sharply after the company suspended its dividend and warned that the sale of its retail chain could slip into 2020.

The chief executive, Rowan Gormley, said sale talks were at an “advanced stage”, with “multiple bidders” interested in the 200-store chain. However, if a deal was not signed by the summer’s end, the company, which also owns Naked Wines, would halt the process and restart it in the new year.

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