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EBTM heads for administration

EBTM, the music-inspired fashion etailer, is to go into administration after the board conceded there were no possibilities of maintaining value for shareholders.

EBTM’s shares were suspended this morning.

On Friday, EBTM said it had made an application to the High Court to place its operating subsidiaries Mockingbird Distribution and Everything But the Music into administration, but that parent company EBTM had not been placed into administration because the board was continuing to evaluate options to maintain value in the business.

EBTM’s AIM listing will be cancelled from April 1.

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