Former C&A boss Neil McCausland, chairman of value department store group TJ Hughes, is said to have been Laxey's original choice, but was dropped at the last minute.
Seymour Pierce analyst Richard Ratner, an outspoken supporter of Wyevale's incumbent chairman David Williams, made the claim, although McCausland refused to comment.
The adoption of property expert Ware as candidate, rather than a retailer such as McCausland, led industry observers to suspect that Laxey views Wyevale primarily as a property play.
Wyevale said today that CB Richard Ellis has valued its 114 sites at£265 million, excluding its head office property in Hereford, compared with a balance sheet value at January 2 this year of£222 million.
Wyevale director Andrew Lewis-Pratt affirmed: 'CBRE's conclusion confirms the board's consistently stated view that the key opportunity available to enhance value for all Wyevale shareholders stems from more intensive use of our sites through higher performance retailing, not from break-up, sale and leaseback or large-scale redevelopment of sites.'
The board of Wyevale has backed Williams, however the fight for control of the store group will come to a head on Monday, at a specially requested EGM.
Ratner has urged shareholders to reject Laxey's resolutions and criticised Ware's retail track record as chairman of Stead & Simpson in the late 1980s and early 1990s.
He said: 'We accept the right of Laxey and friends to vote as they wish with their shares, but we would ask everyone to look at the Ware team's record at Development Securities and Stead & Simpson.'
Various private equity firms are circling Wyevale, but the Laxey row is understood to have dissuaded some from bidding until the situation has become clearer.
No comment was available from Laxey.
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