Cash crisis grips Sutton Trading Solutions

Sutton Trading Solutions, a US-based provider of online dealing services, has filed for bankruptcy protection at its Czech outpost Sutton Data Services and laid off the majority of staff at principal subsidiary Sutton Online as it makes a last-ditch bid to attract new funding or fold the company.

  0 Be the first to comment

Cash crisis grips Sutton Trading Solutions

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Sutton revealed the extent of the cash crisis facing the company on the eve of the US Independence Day holiday.

The firm says it has sufficient cash on hand and good receivables to continue operations for approximately one month. If it is unable to raise additional funds, the company says it will have to consider alternatives "including a sale of its assets and/or a termination of its business".

Sponsored [On-Demand Webinar] The final countdown: What’s next for Verification Of Payee?

Related Company

Keywords

Comments: (0)

[New Report] The Future of European Fintech 2025: A Money20/20 Special EditionFinextra Promoted[New Report] The Future of European Fintech 2025: A Money20/20 Special Edition