So many red flags I've lost count.
- Can't afford to pay lenders
- Tried to sell Mildura and failed
- Losing money hand over fist
- Can't do capital raises the usual way as sophisticated investors won't touch it
- Launched a cheaper range of imported products and immediately got undercut by the competition (ECS)
I could go on, however the main issue at the moment is where is the money to pay staff/suppliers going to come from? I guess we'll find out tomorrow when they announce the results of the entitlement offer. Is it finally game over?
Ann: NAB Defers Interest Payments to Facilitate Revenue Growth, page-4
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