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Adili's future unclear as shares suspended

The future of ethical etailer Adili is unclear after its shares were today suspended as it failed to secure finance for the company’s future.

Adili, which trades as Ascension and also has two standalone stores, said it had been exploring options to secure future financing, however discussions had been terminated without an agreement being reached.

In a statement made on the Alternative Investment Market (AIM), Adili said: “Although the board continues to explore options, including the possibility of re-opening those discussions, the uncertainty of the company’s financial position at this stage means that a temporary suspension is considered to be appropriate.”

Adili said that would make a further announcement in due course.

Readers' comments (1)

  • I've been reading this story over the last few months in DR, we are a small independent online fashion business with a TO approx half of what Adili's is reported to be but with none of the losses Adili was also reported to have posted. We consider ourself novices, amateurs doing our best and working with common sense and good accounting and thought the team running this company with their collective backgrounds would be far smarter - I can only assume the losses were down to the fact that there was a big experienced and possibly expensive team, maybe a big office, maybe a nice address, and maybe the fact that they were always spending someone elses money? My father just kept saying to me when we started watch the overheads and its still ringing in my ears now.

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