English
Français
Deutsch
Italiano
Português
Русский
Español
简体中文
हिन्दी
日本語
By Ian Walker
Pittards on Thursday cancelled its planned fund raising as the required conditions needed for it to go ahead hadn’t been satisfied and said that it is considering all options, including a sale of the business.
The London-listed manufacturer of specialty-leather goods for retailers said on July 11 that it was planning to raise up to 1.85 million pounds ($2.4 million) via management share subscriptions and a shareholder open offer.
It said at the time that it needed to raise a minimum of GBP1.16 million in order to continue trading and will probably be placed into administration if it was unable to do so, with little or no value being returned to shareholders.
Pittards said Thursday that its banks have extended their existing facilities through to the end of August.
Trading in the company’s shares is currently suspended due to its 2022 accounts being delayed. The accounts are likely to be delayed further, the company said.
Write to Ian Walker at [email protected]
Read the full article here