Avia may sell up
North Wales-based Avia Health Informatics said a sale of the business is one of the options it is considering as its struggles with cashflow continue.
The health software group, which owns Plain Software of Colwyn Bay, has been looking to raise finance to support continued trading, but told the Stock Exchange no new funds were required immediately for the purpose of securing the business.
Avia, which had its shares temporarily suspended earlier this week while it clarified its financial position, added that current cash resources were "highly constrained" and it remained vulnerable to adverse trading swings.
Cash stood at £220,000 on 31 December, according to the company, which forecast that headroom levels would remain tight going forward in 2012.
To address this issue, the business is looking to raise £500,000 to develop the business.
Other options, including a sale, were under consideration as part of a strategic review, the business added.
