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Safestyle UK PLC on Tuesday said it was considering a number of options which could include the sale of some subsidiary businesses. The retailer and manufacturer of PVCu replacement windows and doors said it has engaged Interpath Advisory to assist with the process. It said this ‘may include a capital injection or new financing, a potential sale of the shares in the subsidiaries and/or a sale of the business and assets of the subsidiaries’. Safestyle said a number of different parties have declared their interest, and the board and its advisors will continue to engage with these parties in the coming days. The firm continues to engage with the group’s bank, which remains supportive whilst re-iterating that maintaining its ongoing support is still expected to be conditional on achieving a positive outcome from this process. Last week, the firm said it was working with shareholders and third party investors to secure a cash injection and is discussing ways to strengthen its balance sheet. As part of these discussions, Safestyle has engaged with ‘a number of third parties who have expressed interest in investing in the group,’ it said at the time. Shares in Safestyle rose 4.3% to 2.70 pence in London on Tuesday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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