CITY AM – CBI fights for survival
CBI postpones crunch AGM amid ‘short term cash flow’ issues and race to raise £3m
London business paper CITY AM SAYS The Confederation of British Industry (CBI)’s annual meeting meant to take place Wednesday has been postponed, prompting more concerns about the finances of the crisis-hit lobby group.
Following a race to raise £3m within days of its scheduled annual meeting, the CBI announced its postponement in a message to members on Tuesday afternoon.
The Confederation of British Industry (CBI)’s annual meeting meant to take place Wednesday has been postponed, prompting more concerns about the finances of the crisis-hit lobby group.
Following a race to raise £3m within days of its scheduled annual meeting, the CBI announced its postponement in a message to members on Tuesday afternoon.
“As has been reported, the CBI has experienced some short term cashflow challenges.
“To reassure members, we are in positive dialogue over finalising financing options and are confident that we will be able to resolve this short-term issue and secure the footing of an organisation that remains in a strong medium to long term position.
“But given the significant interest in the CBI right now, we are opening up and refocusing our previously planned AGM.”
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