Wilsons needs cash
15/04/2008
Wilsons The Leather Experts has reported that it must raise additional capital in the
second quarter of 2008 otherwise it could face bankruptcy.
The retailer, which has seen sales drop consistently in recent months, said it needed to find new investors. It had $7.4 million in cash at the end of 2007, down from $45.6 million at the start of 2006, according to its annual report.
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