8th Feb 2019 16:18
LONDON (Alliance News) - Richoux Group PLC on Friday said Non-Executive Chair Simon Morgan has resigned with immediate effect.
In January, restaurant owner Richoux announced its intention to depart from London's AIM market as it does not expect long-term meaningful revenue growth under its current model, and does not think it likely that its existing financiers will support a change to its outlook.
Richoux has locations in Mayfair and Piccadilly and expects cancellation of its shares to become effective on Friday next week with the last day of dealings to be Valentine's day.
Richoux shares were down 22% at 0.88 pence on Friday.