Swedish potassium sulphate producer Cinis Fertilizer has given an update on its financial situation, saying that it is still looking for a liquidity injection.

The company says a liquidity injection is needed in the near future to secure continued operations.

The company outlined the various options that its board of directors have been pursuing, but said that as of 9 January the company had not be able to reach an agreement with stakeholders.

Discussions are still ongoing, said the company in its statement, and that it “has decided to oversee its cash management to preserve liquidity, but such actions are not expected in itself to maintain the liquidity in the Company for more than at most a couple of weeks.”

If the business cannot be secured as a going concern, the company will most likely need to initiate formal insolvency proceedings, the statement concluded.

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