Pipehawk (GB:PIP) has released an update.
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PipeHawk PLC has appointed RSM UK Restructuring Advisory LLP as administrators for their subsidiary QM Systems Limited due to financial struggles, with QM accounting for 65% of PipeHawk’s revenue in the last financial year but also reporting a loss. The future of QM Systems is uncertain, and further announcements will follow concerning its administration process.
For further insights into GB:PIP stock, check out TipRanks’ Stock Analysis page.