going concern

Frasers added that it was also "exceptionally concerned" at an opinion by its auditor in its annual report, published on Friday, which noted there was "material uncertainty related to going concern".

The audited annual accounts for 2022 showed turnover of £28m and a loss of about £70m with the auditor’s opinion of "material uncertainty" about the firm’s ability to continue as a going concern.

The audited annual accounts for 2022 showed turnover of £28m and a loss of about £70m with the auditor’s opinion of "material uncertainty" about the firm’s ability to continue as a going concern without new contract wins and additional funding.

Then there’s the stature of the company as a going concern.

Those losses, the rate at which the company has spent down cash reserves in recent years, and gloomy projections for the future “raise substantial doubt about our ability to continue as a going concern,” the company wrote in the filing.