PRINCE Charles's Duchy originals which has a Launceston-based bakery has denied a rumour that it is about to be taken over by supermarket chain Waitrose.
The company has rejected a claim in a Sunday newspaper that it was in advanced negotiations with Waitrose.
The profits of Duchy originals fell from £1.53-million to £57,400 in one year.
A spokeswoman for Duchy originals said: "We are not the subject of a take-over by Waitrose.
"Like any other food company, Duchy Originals holds discussions with retailers and suppliers all the time. Naturally, these discussions are confidential"
A spokesman for Waitrose said they were in discussions with suppliers all the time but he was unable to comment "due to the commercially sensitive nature."
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