Commander have just put out an announcement saying that they could not find a buyer for the Affinity business, so they are closing it down and retrenching a number of staff.
The announcement provides all the information in relation to the nimber of retrenchments, etc.
I wonder if this will require a further write down in goodwill. I imagine they must be carrying some goodwill for Affinty.
The announcment makes no mention of the reduction in Gross Sales, Gross Profit, etc - as a result of closing down the Affinity business.
From memory, the Affinity business had a turn-over of around $40m.
Regards
Tails
CDR Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
