Forget Rachel Reeves’s budget and the threat of axing Aim exchange tax breaks. Some companies on the junior market can’t be bothered to wait for that. The latest? N Brown, the accident-prone online clothing retailer, controlled by the family of the Lib Dem peer Lord Alliance.
It’s being taken private, via a £191 million cash offer at 40p per share, by a vehicle led by his son Joshua Alliance. But not without a departing a crack at Aim. Given “N Brown’s current shareholder structure and very low trading liquidity, and the limited UK fund manager appetite for small cap consumer stocks”, it was “not benefiting” from its Aim quote, it said, but still had “to bear significant costs associated with its listing”.
Neither is the