Goals Soccer Centres has asked for its shares to be suspended after saying that it has discovered a " substantial misdeclaration of VAT", going back over several years. The final figure is still being calculated but currently stands at £12m. "The company also expects that the VAT accounting policies they intend to adopt may have an impact on profitability going forward," it said.
The company, in which Mike Ashley has a stake, said it would enter into discussions with HMRC and remains in discussions with lenders to agree new facilities.
The company added that it "believes the above may lead to a material change in its overall financial position and the company is currently unable to provide clarity to the extent of that impact without the receipt of further information".