Engineering group runs out of cash

Engineering services group Redhall is fighting for its survival after it suspended trading in its shares on the Alternative Investment Market. Its shares closed last night at 1.5p, valuing the £38m-turnover group at just £5m. The Wakefield-headquartered group has now revealed tax liabilities have increased the pressure on its short-term cash flows. Redhall secured £2m of short-term financing from two of its largest shareholders in January and it had again been "in active discussions with major shareholders and creditors to... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
Close