Struggling personal computer distributor Spectrum Group Plc has decided to sell its profitable photographic distribution business to Parkfield Plc for UKP2.15m, and will use the cash to reduce its borrowings to UKP400,000. The company has very high hopes for the low-cost Bondwell IBM Personalike that it began distributing last September, and plans to concentrate on that business in the future. The company also reported unaudited figures for the year to June, showing a pre-tax loss of UKP1m, down from a loss of UKP2.5m last time, on turnover that crashed to UKP14.4m from UKP40.7m the previous year.
