Over the last few days there have been a number of rumours circulating about the current position of IBS-STL UK in regard to its future. This communication is to inform you of the current position.
Over the last few weeks the charity has been in discussion with its bankers and creditors, with a view to determining the best way forward. As with any charity or company going through financial difficulties, we have to be careful with regard to the interests of the creditors, as well as the ongoing work of the charity and ministry, about which we are passionate.
The period of our bank facility has been extended to enable us to carry out further work with appropriate consultants, looking at the various business models that the IBS-STL UK Management Team and Trustees have been considering. When this work has been completed, we will be in a position to decide and communicate on how we see the future.
Until then we are very appreciative of the patience shown and help given by many of our suppliers and ministry partners. We are grateful for the opportunity to continue serving our Retail customers through our distribution operations.
We will keep you informed as and when there is something to add.