CTN operator Newsplus Group has fallen into the red after closing two poor performing stores in the past year.
It reported a loss of £31,000 on sales largely flat at £12.2m in the year to 31 March 2012 in accounts made available at Companies House this week.
However, Newsplus added that like-for-like sales were up 5% on the prior year.
“This sales increase helped to cover the lost contribution from two smaller stores sold just before the year end,” finance director Steve Carroll wrote in the accounts. “The turnover of convenience stores in the estate grew by more than 6%, supporting our long-term strategy of developing the company’s convenience offer.”