11th Dec 2015 07:55
LONDON (Alliance News) - PhotonStar LED Group PLC on Friday said it has terminated a supply contract with an unnamed UK-based electronics company, though it said the move should not significantly impact on its balance sheet.
The LED lighting products company said the contract, announced in July, had been cancelled after the customer was placed into voluntary liquidation.
PhotonStar said only a small amount of revenue had been generated from the contract, and it does not expect it to impact on its balance sheet.
The company said it will act to protect its financial position, though it said the level of any compensation it will receive is difficult to assess.
By Sam Unsted; [email protected]; @SamUAtAlliance
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