Landround considering disposals

LANDROUND, which runs reward programmes and promotions including the Buy & Fly scheme, is considering selling “some or all” of its businesses.

The group made a loss of £550,000 in the first half of the year and a dispute with a Buy & Fly customer has left it with cashflow problems.

It is now in discussion with its bankers, HSBC, regarding its future facilities.

In a statement chairman, David Owen, said: “With these factors in mind, the board are considering the company’s longer term options, including the  possibility of disposing of some or all of  the group’s businesses.”

The Chester-based company said it had hoped to settle the dispute over Buy & Fly, a loyalty scheme which enables consumers to collect points and exchange them for travel and leisure offers.

This was now unlikely and the missing income will lead to a second half loss and have an impact on profitability in the next financial year.

Mr Owen said more details about the company’s future would be included in the its interim results, currently planned for November.