Scotpac will run a mile from this deal if given a chance. Affinity bought a mangy dog with declining margins, massive staff attrition and an arrogant, overpaid and underwhelming management team. The CGR purchase looks like another fig leaf for the management team then along came CV19. Client sales volumes will have plummeted and so will fee income. Whilst Scotpac have a minimum monthly fee gouge hardship rules should apply. ACCC/Carnell should be all over this. Don’t want to imagine what is going on with the leasing book. Companies that have to borrow at >12% minimum on old gear......
Scotpac will run a mile from this deal if given a chance....
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