Hill Station is not heading for a financial crisis, says group MD Charles Hall.
The ice cream manufacturer, which acquired rival ice cream firms Loseley Dairy Ice Cream and Granelli McDermott last November, suspended trading in its shares this week "pending clarification of the company's financial condition".
Hill Station asked for additional funding earlier this year to upgrade its factory in Cwmbran, south Wales. Its bank would not provide additional credit, so Hill Station had turned to its shareholders, Hall said.
Trading was suspended to protect shareholders from "bad rumours" but should be reinstated in days, he said.