Review nears end

OROTON shares have been put in a trading halt as the struggling fashion retailer comes close to finalising a strategic review.

It follows Oroton’s announcement in August that it would end its franchise agreement with American fashion label Gap.

That revelation came after Oroton directors revealed earlier this year that they were considering buyout offers.

In a statement to the Australian Securities Exchange yesterday, Oroton said it had requested a halt in trading of its shares as it came “close to finalising” its strategic review process.

An announcement would be made tomorrow, if not sooner, the group said.

In June, the retailer said it had received buyout offers and the business could be sold or recapitalised.