Bens Creek Group Plc (GB:BEN) has released an update.
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Bens Creek Group plc, a metallurgical coal mining company, is facing financial difficulties and has resolved to appoint administrators after failing to repay significant loan note redemptions from two of its major creditors. As its subsidiaries undergo a Chapter 11 bankruptcy process in the US, the company is exploring options including a sale and liquidation process for their assets. Additionally, the company has seen the resignation of its Nominated Adviser, Allenby Capital Limited, which could lead to the cancellation of its AIM shares trading if a replacement is not found within a month.
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