Nigel Wray, Nick Leslau, Archie Norman and Julian Richer have formed a joint venture to target undervalued retail groups.
The new company, Maybeat, has ruled out Marks & Spencer. But Storehouse, Allders, House of Fraser, Laura Ashley and Sainsbury are tipped as possible targets.
The four believe they have the expertise and City connection to unlock the property value of some ailing retailers. Maybeat intends to fund takeovers by issuing new shares, borrowing money from venture capitalists and selling buildings own by the target.
The Daily Telegraph 03/11/99 page 31, page 33
The Independent 03/11/99 page 17
The Times 03/11/99 page 33, page 35 (Commentary)
The Guardian 03/11/99 page 27
