"Despite a significant number of meetings with potential investors resulting in good levels of demand, and constructive discussions with a number of key customers and suppliers regarding the provision of support, there was ultimately insufficient demand to raise the full
The company said it is in discussions with its lending banks and advisors regarding other possible options, and is in receipt of "a number of inbound enquiries" regarding a potential sale of all or parts the business. A further update will be made as appropriate.
Conviviality added that it believes shareholders in the company will receive "little-to-nil" value. Shares in Conviviality remain suspended.
Wednesday's announcement comes after the company last week said it continues to have constructive discussions with lenders and with HM Revenues and Customs regarding a
The
