Finance head steps down

The Batley-based group said Mr Smith was appointed to produce the delayed 2008 results and report, which have now been completed. He will leave at the group's annual shareholder meeting on June 29.

Cattles will appoint restructuring expert Paul Felton-Smith in his place.

Executive chairman Margaret Young said: "The board would like to place on record its thanks for Jamie's enormous contribution over the last year.

"He joined us at a particularly challenging time and over the last year has made a substantial contribution to dealing with the wide range of issues faced by Cattles, including the recent finalisation of the 2008 accounts.

"We are delighted to have found such an able and experienced successor for the finance director role and look forward to working with Paul Felton-Smith."

Earlier this week Cattles warned shareholders that plans to restructure the troubled company were likely to leave them with a return of no more than 1p a share.