CTN operator Finlays Newsagents is to convert all of its stores to its ‘Bargain Booze plus Finlays’ format following continued success with the joint fascia.
Writing in the company’s annual report published at Companies House, MD William Gandy said that the joint fascia, first piloted in 2007, continued to benefit the company.
“The format is working well in those sites already completed,” Gandy said. “I remain committed that Bargain Booze alongside our traditional products is the best way forward and will secure long-term sustainability.”
In a stark warning to the CTN sector, he added: “In its current form I must question the long term viability of the traditional newsagent.”
Finlays returned to profit last year, reporting a pre-tax profit of £95,111 in the year to 31 March 2012 against a loss of £29,579 the year before. Sales fell 5% to £10.2m.
The company put 12 of its 20 stores up for sale last month.