Guinness Peat Group says its plans to wind up the company continue to be frustrated by the British pensions regulator.
The investment company says it has finished selling its assets and the pensions issue is the only one outstanding.
Chairman Rob Campbell says it has always been the board's intention to do the right thing and it believes a fair and timely settlement would be in everybody's interests.
GPG's net result for calendar 2013 turned to a £23 million profit compared with the previous year's £26 million loss.
Its only remaining subsidiary, Coats, lifted sales more than four percent and produced a £19 million profit compared with the previous year's £92 million loss.