Unbound Group has yet to secure the additional funding it needs or a buyer for the business which operates Hotter Shoes as well as a fledgling mature market online marketplace venture.
The business was prompted to update the Stock Exchange following media reports that it was fighting to avoid administration. Whilst it has confirmed that it is continuing to work with Interpath Advisory on a strategic review process for the Hotter Shoes business, it appears that there is limited appetite in the market.
If the process fails, Unbound Group has confirmed that the most likely result will indeed be administration.
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