Unbound Group PLC (AIM:UBG), the clothing and shoe retailer for over-55s, saw its shares fall by 27% following an announcement that its formal sale process has been discontinued due to a lack of viable offers.
In a 180-degree turn, it is now considering a cash call to raise up to £2mln following an improvement in trading conditions.
This equity fundraiser is aimed at supporting the implementation of a formal restructuring plan, investors were told.
At 9.37am, the stock was down 0.75p at 2.00p.