Kings Not For Sale Again
By George Anderson
Reuters reports Marks & Spencer has decided to take Kings Super
Markets off the market citing current market conditions, which made it impossible
for potential buyers to raise sufficient cash to purchase the chain.
Marks & Spencer thought it had sold Kings to both D’Agostino and Gristede’s
at separate points but the deals fell through.
Moderator’s Comment: What does Marks & Spencer
do with Kings now?
Rebuild the business that has been hurt while it has been
in sale limbo. Only by doing that will M&S get the price it wants when the
credit markets open up. [George
Anderson – Moderator]