Pipehawk (GB:PIP) has released an update.
PipeHawk PLC has disclosed that its subsidiary, QM Systems Limited, is entering administration under RSM UK Restructuring Advisory LLP, following a significant loss and a drop in revenue. The Board assures that this move will not affect the continuing operations of the PipeHawk Group, which plans to keep trading as usual. QM was responsible for a substantial portion of PipeHawk’s revenue and this development could have implications for shareholders and the company’s financial health.
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