If CCP PID 50 cents on the dollar they will go out of business.
The banks and credit card companies sell the PDL,s because they deem them irrecoverable in full.
They are exposed to USA where unemployment could hit 25 % and up to 15% in ANZ .Retailers are closing left right and centre and as they are the last channel to the consumer the entire supply chain will collapse leading to more lay offs in logistics, manufacturing and raw material.
CCP is severely exposed to this having very little cash reserves and the banks may just decide to send in insolvency specialists to recover their loans.
Those loans will almost certainly be secured against the PDL,s and if as one poster argues 80% are on direct debit the bank may just dispense with CCP and collect the revenue themselves.
This appears to be what is happening at CLH
CCP Price at posting:
$10.10 Sentiment: Sell Disclosure: Not Held
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