News
Geneva closing branches but staying open
Friday 26th of October 2007
Geneva Finance, which defaulted on debenture repayments earlier this month, is seeking approval for a loan moratorium as it struggles with a lack of cash and tries to stabilise its position.
"We haven't collapsed," Geneva chief executive Riley said.
"We've shut our branches and we're moving to a different model. We're still there, we're still lending, not much has changed. . ." he said.
The move was consistent with the moratorium proposal and the need to build up cash reserves and cut costs.
Want to read the full article?
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
Latest News
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)