Conviviality's (CVR) shares are still suspended following a dramatic two weeks for the company. A shock profit warning, an unearthed £30m tax bill and the subsequent cancellation of its half-year dividend has forced bosses to consider a possible equity fundraise to recapitalise the business.
IC TIP:
Sell
at
101p
This strategy has been mooted by the group’s advisors and brokers, despite “constructive discussions” with lenders. Accounting group PwC continues to work on its review of the business, while customers and suppliers are said to have remained “supportive” of the group during this difficult period.
