Brandsco misses out on deals

RETAIL investor The Brandsco failed to complete acquisitions it targeted in the year to May 31.

In a statement Plus-listed Brandsco said it had pursued several companies to no avail.

Chairman Marcus Cassidy said: “During the year the company identified potential target companies and spent a substantial amount of time and money undertaking due diligence on the targets. Unfortunately this transaction did not occur.”

It is now working on an alternative deal and is carrying out due diligence.

Warrington-based Brandsco, formerly Lakas Investments, is seeking to make investments in the retail sector, focusing on branded goods.

The company said it had cash reserves of £68,000. It made a loss for the year of £260,240, down from £843,391 last time.