Sir; I fear Londis retailers’ views are not being correctly ascertained prior to decision day on the future of the group.
The meagre turnout at the Londis regional meetings means very little contact has been made with retailers - 230 to date represents just over 10% of the shareholders. A questionnaire sent out in January when KPMG were first employed would certainly have gleaned some of the shareholders’ aspirations.
The lack of information (the glossy Londis newsletter has little more information than that available in the trade press or magazines) has meant that retailers are still unsure as to the best possible way forward.
The various options and the ramifications of these have not been communicated to us. So how the shareholders, all 2,000 of them, each with their own trading position and constraints, are expected to answer the latest phone survey is unclear.
This is hardly a democratic way for KPMG to propose an offer.
Chief executive Graham White stated the only way forward for us is for a buy out so we can become a bigger player in this sector. I believe this to be the way forward as well, as do the silent majority of over 1,000 who voted for it initially. The only point of debate is the offer price and its distribution.