Firm had been hoping to release 2020 results before next month
NMCN has said it will miss another deadline to publish its delayed 2020 results which are required to secure a rescue deal.
Last month, the firm said it hoped to complete its refinancing with would-be white knight Svella, a firm which specialises in rescuing stricken firms, by the third week of November.
It had hoped to publish its 2020 results as well as its latest interim results by 1 November so a prospectus for the refinancing could be published beforehand and ahead of the being completed by 19 November.
But in an update to investors, the firm confirmed “it has become apparent that the group will be unable to approve the audited financial statements within the extension period set out in the company’s announcement on 24 September 2021”.
In last month’s announcement, NMCN said its bank, Lloyds, had agreed to extend the firm’s £11.8m overdraft until 5 November.
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