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Talks on possible HE Richards takeover

Trade and Industry Minister David Cretney hopes a buyer can be found for wholesaler HE Richards, which went into administration today, putting the future of its 28 staff in doubt.

The firm lost its cigarette supply business earlier this month, because of a dispute with Imperial Tobacco over payments.

KPMG has been appointed as the company’s receiver and says the firm is up for sale.

Mr Cretney says it's disappointing news, but there are signs a deal could be reached:

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