The shareholders of chronically underperforming retail group Brazin will soon be put out of their misery. Brett Blundy, the largest shareholder with 62%, has announced an offer to privatise the company at $1.81 per share in cash. The company’s nine year life on the sharemarket has been a rollercoaster. After listing at $1.50 the shares reached highs of more than $4.00 and then a low of 55 cents, but in some ways the takeover will be a shame. Profitable concepts such as lingerie chain BNT were dragged down by misadventures into coffee stores, underage discos and footwear retailing while entertainment business Sanity has suffered from competition and new technology.

The stock is up 22% since issue 205/Aug 06 (Avoid—$1.45) and, if you own shares, HOLD and await the takeover documents.