At first, finding qualified staff for the company was comparatively difficult, compared to the US.

But there is also no doubt in his mind that an alternative must be found for the smaller company.

"It does provide a breathing space to try to find a way forward for the company as a going concern," the banker said.

The dissidents also said they did not believe management would be able to find a buyer for the company in its present condition.

It also said that earlier this year, investment bankers had failed to find any buyers for the company, a claim some investors dispute.

A telephone number could not be found for the company.

Alyson announced in 1992 that he had decided to retire, and was taking steps to find a way for the company to continue without him.

"Others, with a large technology component, have often found a way for the technology and the company to go forward."

Without it there's a chance that a buyer can be found for the new slimmed-down company.

Finding the right retail format for the combined company has also proved tricky.