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Thread: NAFA Financing

  1. #1
    Just starting out

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    Default NAFA Financing

    For those that have been following the NAFA saga.

    To: NAFA Customer

    As you know from previous communications, NAFA has been, for many weeks, working towards a refinancing of the Company with a new lending syndicate that we hoped and expected would be in place by Thursday, October 17th. Unfortunately and most regrettably, despite our best efforts, this new financing has now fallen through. There are a variety of reasons for this, none of which are important at this point in time.

    Consequently, NAFA’s Senior Management is currently pursing other strategic options in order to preserve NAFA’s business in some form so that it can continue to satisfy the needs of our customers, both buyers and consignors, employees and other stakeholders.

    We greatly appreciate the support and patience of our customers during these difficult times. Obviously, after expending so much effort in recent times to preserve NAFA as we have come to know it, we are deeply sorry to have to be in this position. Nevertheless, we continue to work hard to secure the best possible future for the Company, our customers and the trade.

    We will announce further details as they develop over the coming days.


    Sincerely,

    Douglas Lawson
    President & CEO


    Sent from my iPhone using Tapatalk

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  3. #2
    Member for Life

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    Wow, so they are going under...not a good thing
    "Everything is easy when you know how"
    "Meat is not grown in stores"

  4. #3
    Apprentice

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    I hope they pull through.

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