Without end 21 informed suppliers in latest weeks that it’s brief on money and that it might be pressured to liquidate if a purchaser doesn’t emerge. It requested them in a letter to ship items on credit score whereas talks proceed with a possible purchaser, which it didn’t identify.
The retailer is unable to borrow extra money and “due to this fact is popping to you in an effort to proceed working,” Without end 21 stated within the letter, a replica of which was reviewed by Bloomberg. Failure to discover a new proprietor may pressure it into liquidation, the corporate wrote.
Without end 21 expects to offer info on the potential purchaser within the coming weeks, the letter says.