The world has changed the GFC was a walk in the park compared to this.
They have $200 million of debt, the banks are hurting and are offering 2 per cent as special deposit rates to retail customers so need cash desperately.
They will probably call in their loans to CCP on the basis of the fact that the majority of the CCP loan book is unrecoverable.
In the last results I note cost of collection had increased dramatically and collection rates per hour was in steady decline.
Also the one year debt recovery was also in decline meaning the quality of the loan book was detiorating
The share price is telling you that they are in strife same as Collection House where the banks appointed Insolvency specialists.
CCP Price at posting:
$9.83 Sentiment: Sell Disclosure: Not Held
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