DeepVerge PLC has announced that all staff will be issued with redundancy notices as the sale of subsidiaries continues to be explored.
Environmental and life science group DeepVerge suggested this would be done by 31 July in a regulatory update on Wednesday, as part of a bid to save costs.
Formerly AIM-listed DeepVerge has been exploring the sale of subsidiary businesses Labskin, Modern Water and Glanaco since early June in an effort to secure funds to allow the wider group to continue trading.
Approaches have been made for the first two, the company said earlier in July, while a sale is still a possibility, alongside closures or administration, according to a statement.