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ARMAGUARD FACE BANKRUPTCY - THE VANS WHICH FILL CASH MACHINES

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First published at 15:55 UTC on April 22nd, 2024.

#armaguard
#cashless
#cashpoints

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Armaguard Australia is struggling to stay afloat despite a merger with its biggest rival mid-last year because the plummeting use of cash is making it unprofitable to deliver it around the country.

A proposal for an emergency intervention is expect…

Armaguard Australia is struggling to stay afloat despite a merger with its biggest rival mid-last year because the plummeting use of cash is making it unprofitable to deliver it around the country.

A proposal for an emergency intervention is expected within weeks following urgent talks involving the Australian Banking Association, Armaguard, the Australian Competition and Consumer Commission (ACCC), the Reserve Bank of Australia (RBA), Treasury and businesses with large-scale cash handling, such as Australia Post, supermarkets and major retailers.

The ABC understands the banking sector will offer to pour money into Armaguard to prop up its operations as a short-term fix. https://www.abc.net.au/news/2024-03-13/major-banks-to-intervene-armaguard-cash-decline/103573004
CREDIT: Max Igan https://thecrowhouse.com/home.html

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