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Stanley Gibbons: sale looks like last hope

Stanley Gibbons: sale looks like last hope

Shares in Stanley Gibbons (SGI) plummeted after the company reported a 28 per cent decline in revenues and widening pre-tax losses. A 48 per cent fall in net assets to £18m in the year to 31 March followed difficult trading, one-off costs from the group’s restructuring and guaranteed buybacks for some older investment contracts. With net assets below £20m, and a qualified audit report, the troubled stamp and coin company is now in default – it is dependent on the bank maintaining support.

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