Re-reading the annoucement:
Has the company sold ("realised") the entire business? It is all very vague.
If so, shouldn't they at disclose the financials to shareholder just before the sale and to whom they sold it?
While this was always a high risk play and they are probably broke ... a part of me is suspicious at the lack of information and the "realised" value -even though it had apparently no value (seems like a business transfer). All this while the company traded throughout their busiest seasonal periods (Halloween and Christmas) with a large amount of inventory that would have netted a substaintial amount of cash (millions).
BEGIN Quote from announcement:
As you are aware, the Company was the 100% holding company of Candy Club Holdings Inc, which is
the 100% shareholder of Candy Club LLC. The value of the shareholding had been fully impaired and
was recorded has having no realisable value in the Company’s books. The Company’s shareholding in
Candy Club Holdings Inc has been realised during the course the voluntary administration process for
the benefit of creditors.
END QUOTE
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Re-reading the annoucement:Has the company sold ("realised") the...
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