EY signed audit report on 28th February with no emphasis of...

EY signed audit report on 28th February with no emphasis of matter paragraph (highlighting any particular focus on the going concern assumption). They're confident, based on the information available to them at that date, that SGH will continue as a going concern until at least 28 February 2017. EY would have discussed the loan covenants/options to recall loan prior to agreed date with the banks as part of their procedures. If the debt was at risk of being recalled early, it would a) have been noted in audit report in a GC note and b) all debt would have been classified as current.
The biggest short term risk I see for the business is sentiment from the media that SGH are likely to go bankrupt, and the impact this has on existing and prospective clients.