Nightmare as trendy sleep pod firm flops

A COMPANY that supplied sleeping huts made out of shipping containers has gone bust.

Shares in AIM- listed Snoozebox were laid to rest yesterday after it called in administrators Moore Stephens and suspended trading.

Snoozebox was launched in 2011 by leisure entrepreneur Robert Breare who died in 2013, and has pro- vided accommodation for numerous motorsports and entertainment events such as music festivals.

The announcement follows discussions with its primary lender, SQN Asset Finance Income Fund, over its debt repayment obligations. The firm racked up a pre-tax loss of £8.9m in 2016, down from £18.9m. and said it could not reach an agreement with SQN.