Gösta Wiking has resigned as chairman of the board of directors of Bure Equity as the Swedish private equity firm seeks a refinancing to avoid a cash crisis.

A Bure Equity spokeswoman said negotiations on refinancing were continuing, but talks have not gone according to plan. The firm's shares were suspended for a week last month in anticipation of an agreement, but the directors failed to conclude talks before the company released its 2002 results at the end of February.