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Cattles puts losses at over £900m
SUBPRIME lender Cattles last night said it estimated that it has lost more than £900 million since the start of 2008.
Announcing that it had struck a standstill agreement with its lenders, the Batley-headquartered group, whose shares were suspended earlier this year, said its current view of its balance sheet was a loss of 555m in 2008, and a further 347m loss in the nine months to 30 September.
Separately, the group said it had struck an agreement with bond holders, which frees it to attempt to restructure its finances.
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Saturday 26 May 2012
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