Pentos `unlikely' to consider bid

Sources close to Pentos say it is unlikely they will entertain a takeover bid for the Dillons book chain from Terry Maher, the former Pentos chairman.

After reports that Mr Maher had secured the backing of a top venture capitalist house to construct a bid, one insider said: "Bill McGrath [Pentos chief executive] and his new management team believe Maher is spectacularly wrong by trying to attribute all the current problems to those who came after him. The problems were inherited."

Pentos is talking with its banks ahead of the troubled group's Tuesday refinancing deadline.