Goals Soccer Centres, the five-a-side football pitch operator at the centre of an accounting investigation, is to put itself up for sale.
The East Kilbride-based company said "there is no certainty as to the timetable or outcome of this process" and that it will update shareholders, including Sports Direct, which owns 19 per cent.
Goals has enlisted Deloitte to run the sales process, after the company was forced to admit earlier this month that it would not be able to sign off its accounts by the end of September.
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Shares in the business have been suspended since March.
Historical accounting mistakes, which are estimated to be worth £12 million, are currently being examined and the listing of the company’s shares on the Alternative Investment Market is expected to cease.
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Goals said: "The company confirms it has today commenced a process to invite offers for the business and assets of the company.
"This process is being conducted by Deloitte LLP, and follows their previous appointment as advisors to assess future corporate options for the company, announced on June 18, 2019.
"There is no certainty as to the timetable or outcome of this process. Shareholders will continue to be kept informed of developments as appropriate."
It said in July that year-to-date sales across its 45 UK sites are up 11.5% on a gross like-for-like basis. US sales are up 14.5%.
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