New chief executive Alan Walker, who was appointed to the board following the disposal of its Caldwells mill to Klippan (PrintWeek, 1 November), said he was hopeful that new financing arrangements would be in place soon.
Walker praised former chief executive Ken Mintons tenure at the Scottish manufacturer, but said that inevitably there had been damage done to the business through the restructuring.
But despite this, the company had been left with two good businesses.
Independent non-executive director Alan Cole has resigned in advance of the re-capitalisation.
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