Well the truth really is coming out.Well as predicted the mess that was known as The Cash Store Australia is starting to reveal its ugly truths. The liquidator has effectively 'gifted' 41 stores to Money 3 who will collect the loan for Assistive for 50% of what they can squeeze out of the 'customer' base. Assistive are owed $36M but the loan book has been assessed at $2.5M as current book, and $7M as slow book of which they are collecting $80,000 a month. Money 3 have 6 months to collect and then the book effectively becomes their's for free. Nothing will go back to The Cash Store so NO payments to trade creditors and staff will be screwed as well. Now you may say why is this important for you guys involved with The Cash Store Canada? Well because it's the same business model! The only thing that as kept the Canadian business going is the ability to keep churning loans and customers but essentially the business model is flawed and is nothing but a high volume ponzi scheme. I was telling a few of you this 5 years ago and you know who you are, but no, while you were making money and the share price was going up the sun was shining out of Gord's ar*e but now you are all crying about how he has screwed you all. Boo hoo.
Good luck and goodbye.
PS They're dusting off Conrad's room for Gord.