Troubled carpet group Gaskell has warned that its shareholders are likely to be left with nothing after an outright sale of all its businesses forced by a failure to secure new financing.
The Accrington-based group, which has a distribution warehouse in Kidderminster, said that it aims to sell its assets on a going concern basis, but added: "Following the potential disposals it is unlikely that shareholders will be left with any value."
The firm had announced in November that losses for the second half of the year would be higher than market forecasts. In September the group said it had dropped into a £1.3 million pre-tax loss.
The shares have been suspended.