The group, which has issued three profit warnings since Christmas, told
The Times yesterday it had been in discussions with shareholders about
the decision and was close to finalising the terms of the cash call.
Investors holding half the group’s shares had already indicated they had
agreed to support the rights issue, despite the 95% fall in Land of Leather’s
share price over the past year.
The rights issue is expected to raise £13m and another £5m is understood to
come via a deal with Agilo, the distressed debt specialist.
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Does Darwin's theory apply to taxation? Colin ponders...
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group