Millfield's last attempt to avoid administration

The company has had an eventful few months since it announced in March it was in talks with a third party regarding a possible offer for the firm. The deal then fell through on 5 May. A week later, Millfield saw the resignation of its chief executive Paul Tebbutt, following his fine by the Financial Services Authority (FSA) in April. Since then Millfield says it has been finalising an enhanced business strategy to try and restore the group’s financial strength. In a statement to the stock exchange today, the Board of Millfield says it has been working with Cenkos Securities Limited in “...