00:00 Hello, my name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
00:04 I bring you some breaking business news this morning.
00:07 Safestyle UK, the retailer and manufacturer of replacement windows and doors, has asked
00:13 for its shares to be temporarily suspended from trading on the alternative investment
00:18 market due to what the company describes as ongoing financial uncertainty regarding the
00:23 group.
00:24 Earlier this month, Safestyle confirmed it was in a process which might include a capital
00:28 injection or new financing, a potential sale of the shares in its subsidiaries or a sale
00:33 of the business and assets of the subsidiaries.
00:36 In a statement issued on Thursday, Safestyle said that based on discussions to date, the
00:41 company did not expect to be in receipt of a capital injection or new financing into
00:46 Safestyle, although the directors were in active discussions with a shortlist of interested
00:50 parties.
00:51 Now, in a trading update last month when Safestyle delivered its interim results, which were
00:57 to be published in late September, the company said the trading context of the UK economy
01:01 and consumer confidence remained extremely difficult.
01:05 So a sign there that consumer confidence is quite weak at the moment and today Safestyle
01:11 has requested that its shares be suspended from trading on the alternative investment
01:17 market.
01:18 So an update there about a very significant business in Yorkshire, which will be analysed
01:23 very closely by analysts in the city.
01:27 My name is Greg Wright and I'm the Deputy Business Editor of the Yorkshire Post.
01:31 [BLANK_AUDIO]
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