"The company will continue working to reach an agreement that will allow the restructuring of its balance sheet to protect shareholders, creditors and employees," Service Point said in a statement.
Spain's stock market regulator, the CNMV, earlier suspended trading in the group's shares, which had fallen 7.4 percent on Thursday to 0.37 euros, valuing the company at around 65 million euros ($90 million), according to Thomson Reuters data.
Shares in Service Point, which has 111 million euros ($153 million) of debt, have fallen close to 90 percent since 2007 highs of 3.2 euros.
The company reported a net loss of 834,000 euros for the first half of 2013. Service Point took several steps to support the business, including changing the management team in Britain, which brings in a quarter of sales and exiting France, and said the second half of the year would look brighter.
Last week Spanish white goods company Fagor filed for protection from creditors, while also trying to refinance debt.
The number of insolvencies to end-September in Spain rose 27 percent to 6,582 compared with 2012, according to ratings agency Axesor.
Service Point said it would inform the market when it had news on the process. ($1=0.7245 euros) (Reporting by Clare Kane; Editing by David Cowell and Greg Mahlich)
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