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Headlam Group has announced its intention to appoint administrators and the suspension of its listing.
On 27th August, it was reported that Headlam sold its Netherlands business. The gross consideration for this sale was EUR 850,000. Net proceeds after costs of c. EUR 170,000 ‘will be used for general working capital purposes’, the company stated.
Headlam reportedly intends to appoint administrators from the financial advisory firm Interpath Ltd within 5 business days.
A notice of intention to appoint administrators is also expected to be filed in respect of the Company’s subsidiary HFD Limited. The Company’s other subsidiaries are unaffected by the filing of the notices of intention in respect of the Company and HFD Limited.
Floorscape will continue to monitor developments and will report further as more information becomes available.
Photo source: www.headlamgroup.com
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