The battle for control of Midland garden centre chain Wyevale is set to intensify this week with its majority shareholder due to launch a scathing attack on the firm.
Laxey Partners, the activist investment group which is trying to remove David Williams as chairman of the Hereford-based retailer, will write to other shareholders today. (MON)
Colin Kingsnorth, chairman of Laxey, will say that even if a buyer emerges for the chain, which has outlets across the region, it is likely to block the sale.
Mr Kingsnorth will urge investors to back his motion to depose Mr Williams at an extraordinary general meeting to be held on September 12.
He has accused Mr William of making a strategic U-turn and says he is not confident the Wyevale chairman can deliver value to investors.
The letter is the latest round in an increasingly acrimonious battle. Laxey, which owns 19 per cent of Wyevale, has lined up Robert Ware, a former deputy chief executive of MEPC to become the new chairman of Wyevale.