(Alliance News) - Unbound Group PLC on Wednesday said it was still exploring options for the company and its shareholders, noting recent press speculation that entering administration is one of the possibilities being considered.

Lancashire, England-based Unbound, which owns footwear retailer Hotter Shoes, said the options being considered by the board and the company's advisers included a formal restructuring plan and equity raise, previously indicated to be between GBP1.5 million and GBP2.0 million.

However, it admitted that "in the event that such discussions prove unsuccessful", it is "likely" that administration would occur. This would prompt its shares being suspended from trading on AIM in London, Unbound noted.

The company said it will continue to provide further updates "as appropriate".

Shares in Unbound fell 32% to 0.85 pence each in London on Wednesday afternoon. The stock has fallen almost 90% year-to-date.

In late June, Unbound ended its formal sales process, having received no potential offers that it considered capable of obtaining shareholder and stakeholder support.

By Greg Rosenvinge, Alliance News reporter

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