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Tricorn has halted its sales plans following a strategic review.
The tube manipulation specialist was initially put up for sale in July after posting a pre-tax loss of £44 million over the past six months.
This created a cash crunch, forcing the company's leadership team to put the business up for sale.
Following an additional strategic review, the company is now no longer in an 'offer period'.
The company's shares have also been suspended from trading on AIM pending clarification of its financial position.
At 1:26pm: (LON:TCN) Tricorn Group PLC share price was 0p at 8.25p