Shares in Liverpool's legendary brewer Cains were suspended today.

The move at the request of the board came after a restructuring package was turned down by the Bank of Scotland.

The board has issued the following statement:

"In its interims results announcement of 28 July Cains announced that it was in advanced negotiations with its bankers, Bank of Scotland, regarding the renewal of its banking facilities.

"The directors believed that the Company would be able to reach agreement with its bankers regarding appropriate levels of funding, but noted that there was a material uncertainty as the Group's ability to continue as a going concern. 

"The Company's bankers have now informed Cains that they are not prepared to support the proposals that have been put to it by the Company. Accordingly, the Board of Cains requested the suspension . A further announcement will be made as appropriate."

The company faces a winding-up order on August 12 because of an unpaid tax bill.

The company employs over 1,000 staff.

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