18th Nov 2005 15:38
Sherwood Group PLC18 November 2005 Sherwood Group plc Reorganisation of private label operations Sherwood Group plc ("Sherwood", "the Company" or "the Group") is a designer andsupplier of garments, principally for the lingerie, swimwear and nightwearmarkets. In line with Sherwood's previously-announced plans to focus on brandedoperations and to exit unprofitable private label business, the Group has todayentered into discussions with the workforce in respect of proposals for up to 30redundancies. The cost of implementing these redundancies will be incurred in the currentfinancial year and is expected to be £0.1m. This is expected to produce costsavings of approximately £0.4m in future years. Sherwood confirms that its strategy of developing branded operations is on trackto deliver the 10% growth in branded sales anticipated in the interim resultsannouncement on 23 September. 18 November 2005ENQUIRIES: Sherwood Group plc Tel: 0115 946 1070Carol Duncumb, Chief ExecutiveLaurence Ford, Finance Director College Hill Tel: 020 7457 2020Gareth David This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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