Safestay considers further property sales as winter liquidity pressure persists
Safestay ($SSTY) is considering additional property disposals and changes to its financing arrangements as it faces pressure on cash resources through the winter. The hostel operator said year-to-date trading remained below its original expectations, although recent performance had improved. Bank borrowings fell to £9.1 million from £13.6 million at June-end, helped by proceeds from properties sold in Glasgow and Holland Park. The debt reduction has not removed the need to fund working capital d
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