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Even a few of our detractors have now come around
Recruitment and training company Staffline (STAF) has announced CEO Chris Pullen has “tendered his resignation to the board”. It seeks to reassure that he will “continue… during his notice period in order to facilitate an orderly succession and maintain business continuity”, that “the board's outlook for 2020 remains unchanged” and that it “expects to reach agreement with respect to revised terms that will remove the risk of covenant issues and ensure that the company retains sufficient liquidity headroom”. The shares are though still lower, below 45p…
Previously writing on recruitment and training group Staffline (STAF), in June with the shares above 100p I noted 2018 results (eventually), proposed bailout fundraising & directors 'avin a laugh?, concluding it’s also clearly challenging trading and that’s enough for me at this juncture to continue to avoid. Today “Trading Update” and “Directorate Change” – rarely a good combination…
