The company said it was considering a full-scale restructuring and is in "constructive discussions" with its lending banks, including the extension of credit lines coming due at the end of June.
It added that it is working with investment bank Houlihan Lokey on a financing strategy and is considering cost reductions, disposals and termination of business units.
Shares fell a further 43.2% to €14.66 on the Frankfurt stock exchange today after collapsing 90% last week when EY refused to sign off the year end accounts.
The scandal emerged after a series of articles in the Financial Times last year focusing on alleged accounting irregularities in Wirecard's Asian operations.
Wirecard was founded in a small Bavarian town in 1999 and was catapulted to success under the watch of Markus Braun.
Braun built the company into a global operation that made him a billionaire. Braun quit on Friday as pressure mounted from shareholders about the missing funds.
He said on Friday that the market’s confidence in Wirecard “had been deeply shaken”, adding that the company had “outstanding technology and sufficient resources for a great future” and “I do not want to burden this future”.
