Marlwood is the Cayman Stock Exchange-listed holding company of New BAI International Limited and The New Licence Factory Limited.

The board said it considered how best to capitalise on the group's current position and how best to generate shareholder value following the completion of the listing of Marlwood.

It said the 'clearance' division is widely regarded as a sector in decline, due in the main to the changes that manufacturers, wholesalers and retailers have implemented as to how they manage their production volumes and inventory levels, as well as their changes in buying practices.

In addition, due to the nature of the 'clearance' sector, the business does not benefit from significant levels of repeat business and turnover is heavily reliant on the group's ability to continuously source one-off 'spot' deals at the right price and with a willing end customer.

The deal-driven nature of the business makes it very reliant on the 'trader instincts' of one or two individuals in the group and also makes it a difficult business to grow or develop.

Story provided by Business Financial Newswire