|
Pittards PLC - Yeovil, Somerset-based leather goods producer - Says it has not appointed administrators yet and that it continues to trade. On Sunday, the BBC reported that Pittards had appointed administrators. https://www.bbc.co.uk/news/uk-england-somerset-66492308 On Tuesday, Pittards said it had resolved to file notice of intention appointing Ernst & Young LLP as administrators ‘as soon as reasonably practicable,’ following discussions with its advisers. It said it was taking this action to protect its creditors’ interests. In late July, after receiving valid applications for 5.1 million new shares, raising £204,049, Pittards said it was considering all its strategic options for the benefit of its stakeholders, which could include an orderly sale of the company’s business and assets. Earlier in July, it said it would likely put itself into administration if it was unable to raise a further £1.2 million after raising up to £1 million via the issue of 25.0 million shares at 4 pence each to an unnamed trade investor. Shares in Pittards are currently suspended. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
