17 October 2022 - appointment of administrators
The sleep wellness brand has announced the appointment of administrators. The company had put itself up for sale and although a number of indicative offers were received this has not resulted in a transaction being finalised. It has not been possible to raise finance in time to avoid the appointment of administrators in order to preserve value for creditors. The shares are not expected to have any value and this is a disappointing outcome for shareholders with the company having held significant levels of net cash in the not too distant . . .
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