Allied Farmers faces default as lender calls in $500k loan

Mon, 08 Oct 2012

By Paul McBeth Oct. 8 (BusinessDesk) - Allied Farmers faces default on a repayment after a lender called in a $500,000 loan just hours after the company lodged annual accounts with the NZX in which the auditor, PwC, refused to give any opinion on their validity. The Hawera-based company has asked for more time to repay the loan, which was scheduled to be repaid from an asset sale in November, it said in a statement. As at June 30, Allied Farmers had some $2.1 million in cash and equivalents and carried bank debt of $1.8 million and borrowing...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

PATTRICK SMELLIE: The first leaders’ debate changes nothing
Pattrick Smellie | Wed, 23 Sep 2020

Rarely in the last 40 years has a general election felt such a fait accompli as this one.

DAVID CHAPLIN: When term deposits go bad
David Chaplin | Wed, 23 Sep 2020

Both the government and many investors are taking it slow on decisions to improve retirement savings returns.

House of Travel: from record year to closing stores
Rebecca Stevenson | Wed, 23 Sep 2020

In 2019 House of Travel had turnover in excess of $2 billion. It's anything but business as usual now. 

Partner Content
The whole story behind good investment decisions

If there was ever a time when strong financial metrics were the single trademark of a good company, that time has long passed. Responsible investors need to know beyond the profit a company will generate this year or next.

Canon Business: Premium solutions for Commercial Bay

Precinct Properties is the largest owner and developer of premium inner-city business space in Auckland and Wellington, its latest flagship success is the transformational Commercial Bay on Auckland's waterfront. Canon knew that for such a high-calibre client, only a premium bespoke purpose-built solution would suffice when it came to providing market-leading print, mail and courier services to over 10,000 tenants in the development.