![]() ![]() Less than £0.6m of cash which we considered, prior to the US TreasuryĪnnouncement referenced below, to be at risk and potentially uninsured due to Situation remains fluid, our contractual assessment to date shows us having Interpretation of our mutually agreed contract terms.Īs of Friday March 10th the Group had gross cash on hand of £32m. ![]() The Group is offering the followingĪssessment of the impact of the closure based on our current and best Group's $60m asset-backed credit facility. SVB is also the administrative agent and issuing lender for the The Group holds cash with SVB in a variety of accounts in the USAĪnd UK. With the US Federal Deposit Insurance Corporation ("FDIC") appointed as On Friday 10th March it was announced that regulators had closed down SVB, Additional insight on SVB resolution process required to fullyĭetermine next steps, search for new financing partner underway.Financial plans assumed no further drawdown from SVB creditįacility, 50% of which is provided by Bridge Bank who remain supportive.Robust Group liquidity with £32m gross cash on hand of which £17m.No loss expected to the Group resulting from SVB failure.Group day to day operations unaffected, FY23 trading consistent with. ![]() SVB, one of the Group's banking partners, was closed by regulators.Update regarding closure of Silicon Valley Bank of Santa Clara ("SVB") RNS Number : 7202S Naked Wines PLC 13 March 2023 Naked Wines Announcement 07:00 For best results when printing this announcement, please click on link below: ![]()
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