News blog
Sweet China
- BY: Andrew Hore |
- POSTED: 23/09/2009 |
Sweet China says that it has been unable to raise sufficient cash from a share issue to secure the loan it negotiated.
The China-based confectionery maker will not be able to meet seasonal orders and it has decided to place its Hong Kong-based subsidiary Sweet Essentials Ltd into administration. The group’s UK-based subsidiary continues to trade profitably and Sweet China hopes that some of the Sweet Essentials business could go through this business.
Shares in Sweet China were suspended at 2.5p each, which values the company at £2.44m.
Sweet China still has not published results for the year to April 2009.
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