Fund manager Blue Sky Alternative investments (ASX:BLA) has hit back at reports regarding its Private Equity investment Wild Breads.
Yesterday, The Australian reported that insolvency advisers and investment bankers were circling the asset manager.
The article said McGrathNicol, which has an insolvency division, had been hired to work with baker Wild Breads.
BluSky says it’s appointed McGrathNicol's in an advisory capacity to help the board evaluate its business strategy, growth plans and capital structure requirements.
The company says the insolvency arm of McGrathNicol has not been appointed.
Shares in Blue Sky (ASX:BLA) are trading 4.99 per cent lower to $5.33.