East Imperial, the New Zealand producer of ultra-premium mixers, has been forced into rescue discussions that will probably see it fall into liquidation or administration.
The company, which is listed on the London Stock market, has been unable to meet the recall of a 2m+ convertible note.
At the end of last week East Imperial told investors: The board is now in discussions with professional advisors in connection with the companys possible administration or liquidation, and with the FCA (Financial Conduct Authority) regarding the potential suspension of trading of the companys shares on the main market of the London Stock Exchange.
The shares were subsequently suspended yesterday worth just 0.28p each. Initially they were sold to inves…
Read the full article at: https://www.thedrinksbusiness.com/2024/04/east-imperial-runs-out-of-cash/