Creditors desert the furniture retailer
Courts has suspended the trading of its shares. The retailer sent out a statement this morning saying that its creditors have refused to provide wavers for covenant breaches under its revolving£280 million credit agreement and will not provide any further funding.

The statement said: 'The company has applied to have its shares suspended from the Official List of the London Stock Exchange with immediate effect, pending clarification of its financial position. A further update will me made in due course.'