(Alliance News) – Sorted Group Holdings PLC on Thursday said it may have to enter liquidation or another insolvency process after deciding not to draw on an existing loan facility, as it requested the suspension of trading in its shares on AIM.
The Manchester-based shipments and delivery monitoring software, which became a cash shell in April following the sale of its operating business, said it is continuing discussions with potential reverse takeover candidates but warned there is no certainty it will complete a transaction within the six-month deadline required under AIM rules.
Sorted said it has been evaluating acquisition opportunities since the sale of its operating subsidiary on April 20, when…