SFX Entertainment Receives £20 Million in Financing from Unknown Investor

After exploring options for filing for bankruptcy, SFX has received a lifeline
Avatar:
Harrison Williams
Author:
Publish date:
Social count:
24
After exploring options for filing for bankruptcy, SFX has received a lifeline
sfxlogo.jpg

The recent struggles for SFX Entertainment may have come to a halt momentarily as the company has just received new funding in the form of £20 Million.

Back in November SFX reported it was close to being bankrupt. Just last week the company was exploring options for whether or not it would file for bankruptcy, but all that seems to be put on hold as the new funding has spiked shares by 52%. 

This comes at a crucial time for SFX, who recently had a deal cancelled with a Live Nation executive, while Spotify and a management company known as TMWRK, who manages Diplo and other high profile artists,  also backed out of multimillion dollar deals.

Last week the stock was at an all-time low of 7 cents per share, but has since rebounded after a the undisclosed investor agreement.

We'll have more information regarding SFX as it surfaces.

[via: NY Post]