Discover Leisure shares suspended
TRADING in shares in caravan and motorhome retailer Discover Leisure was suspended this mornng amid concerns about its funding.
The company, which has retail sites in Delamere and Chorley, had announced earlier this week that it was looking for additional finance after recording a pre-tax loss for the year to the end of August of £1.5m and a fall in turnover.
In a statement this morning, Discover said: “Despite the extremely challenging trading conditions and financial environment, the board has had some success in finding financial investors who have indicated an intention to invest additional capital or acquire certain assets of the company.
“However, the board now believes that it is increasingly unlikely that an acceptable solution to the funding issues which the group faces can be secured in the necessary timeframe.
“Accordingly, the company has requested a suspension of the listing and trading of the Company’s ordinary shares with immediate effect, pending clarification of the company’s financial position.”
Discover Leisure, based in East Yorkshire, was the subject of a company voluntary agreement in 2009 which saw it sell 11 trading sites, leaving it with five outlets.
