Date: 16th December 2009 at 11:41am
Written by:

Watford Leisure PLC have today issued the most damning statment yet confirming that if £5m isn’t found for the Russo’s by the close of trading today, they could have place the company in administration.

Following the resignation of the aforementioned directors, the Board received a written demand from Valley Grown Salads for the repayment of its £4.88m of loans (made to the Company) on or before close of business on 16 December 2009.

“The Board continues to consider indicative proposals from both Valley Grown Salads and Fordwat Limited. However, pending resolution and clarification of its financial position the Company has requested that its shares be suspended from trading on AIM. In the event that a funding solution cannot be obtained then the Company may have to be placed in administration. A further announcement will be made in due course.”


Hopefully we can use the snow as some sort of ‘delay’ ploy…