Aquabella in Administration

No funds for Aussie fish. The Aquabella group has called in administrators

Trading in the aquaculture company's shares was suspended on 19 February and the business has been carefully considering its financial position for some time. The business, based at Lymington in the New Forest, had high hopes for the popular sweet-fleshed white Australian farmed fish, but the company has encountered problems with short term funding.

Hemscott reports that the company's board had continued to explore options to address its financing requirements.

Thomson Financial said that negotiations with a number of parties had taken place until very recently, and there was hopes that funding would be received. However, it was now become clear that such funding was not forthcoming and regretfully the company would now have to file for administration.

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