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Troubleshooter joins Premier Direct

19.05.08 Graeme Neill

Workplace books and gifts seller Premier Direct has appointed troubleshooter Aidan Scott Condie to its board of directors with immediate effect. Last week, Premier Direct suspended trading of its ordinary shares on AIM, pending “clarification of its financial position”. In a statement, the retailer said that “Aidan has in-depth experience of assisting companies facing operational issues with a proven track record in this field”.

The statement said that Condie’s previous jobs include stints at Anglo Austrian Patisserie , where he returned the company to profitability after five years of losses; Fisco Tools, where, as c.e.o. the 60-year-old turned the business around before overseeing the sale to a Swedish quoted company; and Citech Energy Systems Limited, where he made a number of operational improvements.

Last week’s trading statement followed a review of the company’s short to medium term cash flow projections by its directors, who decided that the company needed additional financial support for the business to continue trading. Shareholders were warned that “there can be no guarantee that the results of these discussions will lead to a favourable outcome for the company”.

The retailer announced in January that it had been forced to raise extra finance after over-buying stock at Christmas.

Graeme Neill Premier Direct Home Aidan Scott Condie

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