Safestyle UK, the retailer and manufacturer of replacement windows and doors, has requested that its shares be temporarily suspended from trading on the Alternative Investment Market (AIM) due to what the company describes as ongoing financial uncertainty regarding the group.
Greg Wright reports
Greg Wright reports
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NewsTranscript
00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:04 I bring you some breaking business news this morning.
00:07 Safestyle UK, the retailer and manufacturer of replacement windows and doors, has asked
00:13 for its shares to be temporarily suspended from trading on the alternative investment
00:18 market due to what the company describes as ongoing financial uncertainty regarding the
00:23 group.
00:24 Earlier this month, Safestyle confirmed it was in a process which might include a capital
00:28 injection or new financing, a potential sale of the shares in its subsidiaries or a sale
00:33 of the business and assets of the subsidiaries.
00:36 In a statement issued on Thursday, Safestyle said that based on discussions to date, the
00:41 company did not expect to be in receipt of a capital injection or new financing into
00:46 Safestyle, although the directors were in active discussions with a shortlist of interested
00:50 parties.
00:51 Now, in a trading update last month when Safestyle delivered its interim results, which were
00:57 to be published in late September, the company said the trading context of the UK economy
01:01 and consumer confidence remained extremely difficult.
01:05 So a sign there that consumer confidence is quite weak at the moment and today Safestyle
01:11 has requested that its shares be suspended from trading on the alternative investment
01:17 market.
01:18 So an update there about a very significant business in Yorkshire, which will be analysed
01:23 very closely by analysts in the city.
01:27 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
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