Page last updated at 08:06 GMT, Tuesday, 9 December 2008

Land of Leather halts bid talks

Land of Leather showroom
Land of Leather has been hit by the downturn

Land of Leather has ended talks with possible buyers, saying the potential offers had indicated "insufficient value for shareholders".

On 1 December, Land of Leather said it had received a number of "unsolicited expressions of interest" in the firm.

It has issued three profit warnings in the past year, and has said orders fell 47% in the three months to 2 November as the retail sector weakened.

Land of Leather has 109 stores in the UK and the Irish Republic.

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