April 7th, 2007
Chris Industries International Ltd. is sorry to announce that its pre-tax profits for the 2006-07 financial year were some way below forecasts.
CII Ltd’s chairman, Chris, blamed the result on the unexpected departure of the public face of the company, Pete Doherty, and the resulting downturn in sales.
Since Mr Doherty’s departure, the company has racked up Â£14bn in debts, partly due to its poor performance in rotissomat technologies.
The ailing company has been acquired by Richard Branson, who remains optimistic that he can turn around CII’s fortune. From April 10th 2007, CII Ltd will be known as Virgin Pet Care.