Strategic Finance spirals $16.1m further into debt

Strategic Finance spirals $16.1m further into debt
Strategic Finance has fallen further into debt as it prepares to announce details of a proposed restructure. The company has reported an (unaudited) after-tax trading loss of $99.8 million to December 2009 – $16.1 million higher than it forecast in January. Then, the record $84 million loss expected meant the company’s loan book would be more than 75% less than what it owed to investors …

Read more on New Zealand’s National Business Review

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Tags: $16.1m, 1 million, 1m, debt, finance, Further, into, investors, loan book, national business, new zealand, restructure, spirals, strategic