Trading in Millfield shares suspended

Millfield Group last week asked the Alternative Investment Market to suspend trading in its shares while it “seeks to clarify the company’s financial position”. In a statement issued to the London Stock Exchange, Millfield warned that “it is highly likely that the company and at least three of its subsidiaries will be placed into administration in the near future”.

Kevin Paterson, managing director of Park Row Associates, says: “This is sad for the industry and damaging. We are a similar company to Millfield and have been approached by several advisers from Millfield looking to join us.”

IFA Bates Investment Services was rumoured last Friday to have put in an offer to pull Millfield out of administration. Bates was unavailable for comment.