Londis shareholders have warned that the convenience store cooperative would break up if the board went forward with a sale of the business.
KMPG has conducted a strategic review of the group and is understood to have recommended selling the chain or merging it with a larger group.
Adrian Costain, the deputy chairman of the Londis shareholder action group, who is concerned that a move to sell the business would splinter the organisation. He said: “This report could be very divisive and could lead to a break-up of the group. Unless KPMG come up with serious recommendations and some very persuasive arguments then we are in for a turbulent time.”
If the board does proceed with KPMG’s recommendations, it would then have to secure 75 per cent support from shareholders.
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