Renaissance shares surge on education unit sale, Apple-only model no longer viable

Wed, 30 Oct 2013

Oct. 31 (BusinessDesk) – Struggling Apple products retailer Renaissance Corp is to realise around $14 million from the sale of its design school, but its Yoobee brand of Apple-only stores is “no longer viable,” chairman Colin Giffney says. Investors’ immediate reaction was to welcome the sale announcement and accompanying statements in which Giffney indicated a cash return was in prospect once the firm worked through the Yoobee School of Design sale and rationalisation of its Yoobee stores. Shares in Renaissance surged 43.5 percent at the ope...

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