If anyone thought Stanley Gibbons (SGI) couldn't fall any further, they were proved wrong this week. The collectibles group witnessed a 30 per cent crash in its share price after announcing another profit warning - or rather, widening annual losses - and a £10m emergency fundraising.
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The equity raised will be used to plug the company's debt hole as well as fund near-term working capital commitments, including integration costs associated with recent acquisitions. It also appears Stanley Gibbons' auditors have resigned given the high level of risk associated with the business right now.
