The future of ethical etailer Adili is unclear as it announced that its shares have been suspended after failing to secure finance for the company’s future.
Adili, which trades as Ascension online and in two stores, had said it was exploring options for future financing. However, discussions to secure the future of the business were terminated without an agreement being reached.
It said in a statement: “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 it would make a further announcement in due course.