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Utilitywise Appoints Administrators After Failure To Secure Sale
LONDON (Alliance News) - Cost management consultant Utilitywise PLC said late Wednesday it has been unable to sell the company and, as a result, has appointed administrators.
The company began a strategic review "to deliver maximum value for its shareholders", which included the possibility of selling the company.
Utilitywise said, however, it has terminated talks to sell the company after talks over a potential fundraise and bank refinancing were "not successful".
The company's cashflows have "deteriorated" since it began the strategic review in late January and no lnger has the "sufficient funding to meet its liabilities".
As a result, Utilitywise has appointed Andrew Johnson and Chad Griffin of FTI Consulting LLP as administrators.
Shares in Utilitywise are currently suspended but last closed at 1.88 pence each.
Latest UTW News
- Utilitywise shares suspended as it calls in the administrators
14 Feb 2019 - Ex-CEO mounts rescue bid for ailing Utilitywise
13 Feb 2019 - WINNERS & LOSERS SUMMARY: Ocado And M&S Rise On Delivery Deal Report
28 Jan 2019 - Utilitywise To Consider Offers As Investors Shun Equity Raise (ALLISS)
28 Jan 2019 - Utilitywise looks to sell business as funding runs dry
28 Jan 2019 - WINNERS & LOSERS SUMMARY: Alfa Financial Sinks After Contract Delays
4 Sep 2018 - Utilitywise Moves Forward With Further 2021 Growth Strategy Targets
5 Jul 2018
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Utilitywise News
Utilitywise shares suspended as it calls in the administrators
(Sharecast News) - Utilitywise announced on Thursday that Andrew James Johnson and Chad Griffin, both of FTI Consulting, had been been appointed as jo...
Utilitywise Appoints Administrators After Failure To Secure Sale
LONDON (Alliance News) - Cost management consultant Utilitywise PLC said late Wednesday it has been unable to sell the company and, as a result, has a...
Ex-CEO mounts rescue bid for ailing Utilitywise
(Sharecast News) - A bid to save the future of business utilities consultancy Utilitywise was launched on Tuesday, by its founder and former chief exe...
WINNERS & LOSERS SUMMARY: Ocado And M&S Rise On Delivery Deal Report
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Monday.----------FTSE 100 - Group, ...
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Utilitywise looks to sell business as funding runs dry
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WINNERS & LOSERS SUMMARY: Alfa Financial Sinks After Contract Delays
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - WINNER...
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