The formal wear tailoring company which listed on AIM in April, saw its valuation tumble by over half during May after warning that it had been hit by an unexpected reduction in orders from its largest customer and was talking with its lenders about getting a waiver on its banking covenants.
The company, which raised
It said at the time that it expects revenue in 2014 to be about
"Accordingly, the company has commenced the process of obtaining a waiver from its debt providers regarding its banking covenants," it said during May.
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- Hispanic NASCAR Driver Ready to Make History
- Faith Groups Divest From Fossil Fuels
- James Foley Beheading Video Is Real Thing: White House
- James Foley Killer Could Be ID'd Via Social Media, Voice Recognition
- Bank of America Agrees to Pay Record $16.65 Billion
- Apple Stock Bounces Back Big Time
- Entrepreneur Contest Announced in Idaho
- Stocks Moving Higher Again for 4th Day
- U.S. Existing Home Sales Rise 4th Month Straight