Pointon's MBO for Crabtree stalls

Julian Pointon - MD of Crabtree Sport and Leisure - has told bikebiz.co.uk that his MBO attempt has run into the buffers. Crabtree staff were told this earlier today.
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An announcement about the fate of Crabtrees is expected on Monday. There are said to be "interested parties" who may make an offer for Crabtrees. There is no confirmation these interested parties are from the bike trade, although sources say this is extremely likely. Bikebiz.co.uk has spoken to the company most Crabtree staff believe is the bidder, but two top brass from this company deny any offers have been tabled.

Bikebiz.co.uk has also been in touch with the Arthur Anderson receiver acting for Action Leisure plc and he said Crabtree's bank is "considering its position" and that he will be able to make a further announcement on Monday.

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