LAN Land OF Leather

RNS Number:2474R
Land of Leather Holdings plc
31 March 2008


                                                                    1 April 2008


Land of Leather Holdings plc


Statement re Sleep Depot


Land of Leather Holdings plc, the UK's only national retailer which specialises
in leather sofas, stated in its half-year report issued on 27 March 2008 that
Sleep Depot which operates 71 concessions within Land of Leather stores was in
the process of finalising a financial restructuring due to the very challenging
market conditions. Land of Leather understands that this restructuring has
failed and that application has been made to put Sleep Depot into
administration.


Annualised rent from Sleep Depot amounted to �4.8 million. The loss of this
concession rental income will be �1.6 million in the remainder of the financial
year ending 3 August 2008 but will be mitigated to some extent by Land of
Leather trading from the vacated space. As referred to in the half-year report,
Land of Leather believes that this alternative use of the space should not
result in a reduction in profitability in the longer term.


Enquires concerning this announcement can be directed to:

Land of Leather - Clive Hatchard, Chief Financial Officer, 01474 322277

Hudson Sandler - James White 020 7796 4133




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
STRILFIAVDILVIT

Land Of Leather (LSE:LAN)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Land Of Leather (LSE:LAN)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024