Cash transportation is starting to feel the affects,

Last-minute lifeline to keep cash afloat

The major banks and some of the country’s largest retailers have extended a last-minute lifeline to Armaguard in a bid to keep the Lindsay Fox-owned cash transport firm alive.

Lobbed last week, the emergency funding package, if accepted by Armaguard, would give the monopoly provider of large-scale cash delivery services financial support in the tens of millions of dollars to allow it to deliver cash until the second half of the year.

The banks, alongside Coles, Woolworths, Wesfarmers and Australia Post have been pushing to have a deal agreed before Easter, The Australian Financial Review can reveal. They were expecting a response by the weekend. But as of Monday evening, Armaguard, owned by Mr Fox’s Linfox Group, had not responded, sources said.