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Victoria shares plunge

victoria2Carpet maker sees double-digit plunge in value.

Victoria Carpets has seen its value fall by 12% in the aftermath of the Alexander Anton/New Fortress Finance lead consortium taking control and its decision to abandon the sale process put in place by the previous board.

Shares are trading at £2.90, 7.5p below the value on 21 December when the intention of the consortium was publically confirmed and £1 less than the peak of £3.90 on 23 January when the sale process was underway.

During the run up to the general meeting the consortium had said one of its main objections to the board's strategy was the low price of shares compared with the group's net asset value.

UPDATE: After the early fall, shares recovered to £3.10p, a fall of 6.5% on the day.