Intention to Appoint Administrators

Pittards PLC

08 August 2023

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

8 August 2023

Pittards plc

 ("Pittards", the " Group " or the "Company") 

Intention to Appoint Administrators

On 27 July 2023 the Company announced that it was considering all its strategic options for the benefit of its stakeholders which could include an orderly sale of the business and assets of the Company. 

Whilst a sale process of the business and assets of the Company has been initiated, due to the Group's current financial uncertainty and in light of increased creditor pressure, following discussions with its advisors the board has regrettably resolved to file a notice of intention to appoint Ernst & Young LLP as administrators to the Company as soon as reasonably practicable.

The board is taking this action to protect the interests of its creditors.

For further information please contact:

Pittards plc	www.pittards.com
Stephen Yapp, Chairman Reg Hankey, CEO Alan Burgess, CFO	[phone]
WH Ireland Limited	www.whirelandcb.com
Mike Coe, Sarah Mather	[phone]

 

END