Fit-out firm is also exploring possible rights issue option as retail downturn hits

Retail fit-out specialist Styles & Wood has said it is exploring the possibility of a private equity sale.

In a statement to the stock exchange, it said it was also looking at the option of raising money through a rights issue in order to shore up its balance sheet.

It said: 鈥淭here can be no certainty that either an offer will be made, nor as to the terms on which any offer may be made for the company, or that it will be successful in raising any additional equity capital.鈥�

It added: 鈥淭he company's bank remains supportive of the business and the above process.鈥�

The company has been hit by the retail downturn, and earlier this year chief executive Ivan McKeever said the market had 鈥済one off the boil in the short term鈥� with the exception of food retail.

Its order book is in line with management expectations at 拢77.4m.

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