Parsley Box box has failed to secure the necessary capital to continue life as AIM traded company and today announced its shares will be suspended.
Parsley Box has struggled to gain commercial traction after the pandemic and has faced difficulties that saw its shares lose almost all of their value before the suspension.
The company had been exploring funding options and after a cost versus benefit analysis on remaining a publicly traded company, have decided the best path forward is as a private firm.
“Another day and another recent IPO goes up in smoke. After the disaster that was Made.com, meals delivery firm Parsley Box is set to cancel its AIM listing,” said Russ Mould, investment director at AJ Bell.
“Following an £84 million flotation in March 2021 Parsley Box has served up a litany of disasters for shareholders and has effectively lost any support from the market.
“This was evident in a very sorry attempt at a fundraise by Parsley Box earlier this year as investors snubbed the chance to buy new shares and management had to step in.
“While the cost of living crisis didn’t help, the proposition behind Parsley Box always looked a little shaky. Why would people pay more to have premium ready meals delivered when they could easily get them from supermarkets at a much cheaper price?”