Walcom warns of potential liquidation later this week

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Struggling animal feed supplier Walcom warned it would go into liquidation by the end of the week of it didn't receive an emergency loan.

The company said chief executive Francis Chi had again reiterated his intention to provide a proposed HK$1.23m loan, but there was no certainty that it would materialise.

Walcom said it would require additional funding to repay a bank loan due at the end of May.

'Based on Walcom's current cash flow projections, the company will be able to continue operations until 29 May,' it said.

'In the absence of the director loan now being received in part or in full by 29 May, the company would be unable to continue its operations and would be forced into liquidation with a consequential diminution in value to shareholders.'

At 1:56pm: (LON:WALG) Walcom Group Ltd share price was 0p at 0.28p