Bakery manufacturer Lees of Scotland may have to postpone an acquisition aimed at diversifying the group due to problems finding a bank to back it, despite record turnover in 2008. The maker of macaroon bars, marshmallow cakes and coconut snowballs was hit by the collapse of Woolworths and banks' risk departments continue to reject its acquisition proposal. Lees had hoped to announce the deal in the autumn of 2008 but chairman Raymond Miquel says the company is still hoping for a solution.
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