MELBOURNE: Listed wholesale group Mercury Brands has halted trade in the lead up to a company announcement this Thursday (February 5).
In a statement to the Australian Securities Exchange, Mercury Brands stated the announcement related to a proposed rights issue.
The Victorian-headquartered company, formerly trading as Austin Group, endured a tough 2007/08 financial year with a reported loss of $7.85 million and the collapse of major shareholder Hawkswood Investments.
Brands operated by the company include Rochford, Contempo, Billiecart, French Kitty, Purr, No Fear, Crusty Demons and the recently acquired fashion group The Factoree.