Suzanne Wilson-Higgins, managing director of Lion Hudson, issued this statement clarifying the company’s position amidst recent reports: “Lion Hudson PLC is solvent, profitable year to date, and continues to trade. We have made a painful restructure in response to a cash crisis as a result of the withdrawal of a financial institution’s support with no alternative sources of finance being agreed, and have sought financial advice. The Company is “In Administration” and Nigel Hamilton-Smith and Geoffrey Rowley were appointed Joint Administrators of the company on 10 February 2017. However, the company is solvent and the underlying business is expected to be profitable in the future. The best possible outcome for creditors is for the company to continue trading which is the intention of the Administrator, the management and staff.” All media queries should be directed to firstname.lastname@example.org.