Even if they managed to magically refinance their current debt obligations and kick that can down the road their current trade payables and employee benefits almost outstrip their receivables and WIP. With October bearing down on them possibly not meeting the criteria for jobkeeper 2.0 then there wouldn't be any cash left. Not to mention that these accounts don't necessarily show the tighter restrictions that have been pushed down on Melbourne over the last 60 days so receivables with their Victorian operations would likely be lower than expected to date putting more pressure on cash in flows.
VRS Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
