BusinessCompany NewsLate accounts halt Forest shares

Late accounts halt Forest shares

East Midlands football giants Nottingham Forest has today had its shares suspended from the AIM stock market for failing to report its accounts on time.

The club, understood to be heavily in debt, revealed the suspension in a statement to investors, gave no reason for its failure to publish a profits statement for the year to 31 May.

It warned that the period had been dogged by pre-tax losses and spiralling borrowing costs, problems which had continued in recent months.

Monday’s statement also hinted that the suspension could last for some time, with trade in Nottingham Forest shares not set to resume until the results have been published.

Forest have recently attempted to lighten its debt burden by releasing star players.

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