Armaguard

2024 - 3 - 28

Coles Takes Drastic Measures Amid Armaguard Fears

Armaguard - ASX - cash crisis - Coles - financial turmoil - armaguard news

Coles halts cash deliveries and hoards money over Armaguard concerns. ASX experiences new developments.

In a bold move, Coles has decided to halt cash deliveries and reduce withdrawal limits in response to growing concerns surrounding the future of Armaguard, the currency handling company. As fears of Armaguard's collapse loom, Coles is preparing for the worst by hoarding cash over the Easter break to mitigate potential financial risks. With a rescue deal for Armaguard on shaky ground, the supermarket giant is taking proactive steps to safeguard its operations. Meanwhile, the ASX has breached new territory, reflecting the uncertainty in the financial market.

The Armaguard saga has sparked speculation about what a future without the company could entail. As Coles temporarily pauses cash deliveries and the feasibility of Armaguard's financial stability is questioned, industry experts and observers are assessing the potential impact on the currency handling sector. With the deadline for Armaguard to accept emergency funding looming, the company's fate hangs in the balance, with significant repercussions for cash logistics in Australia.

On the brink of insolvency, Armaguard rejected a $26 million lifeline, leading to a collapse of the rescue deal. However, amidst the turmoil, logistics magnate Lindsay Fox stepped in with a pledge of $10 million to support the embattled company. This turn of events showcases the intricate web of financial dependencies and the resilience of key players in the cash transport industry.

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Image courtesy of "ABC"

Live updates: Coles hoarding cash over Armaguard fears, while ... (ABC)

The supermarket giant says it is protecting itself from the potential collapse of money provider, Armaguard. Meanwhile, the ASX has breached new territory.

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Image courtesy of "The Canberra Times"

Coles stops cash deliveries over Armaguard money woes (The Canberra Times)

Coles has stopped Armaguard cash deliveries and reduced withdrawal limits in supermarkets as concerns grow about the future of the currency handling company ...

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Image courtesy of "Herald Sun"

Coles to hoard cash amid Armaguard risk (Herald Sun)

Coles will hoard cash over the Easter break in case Armaguard collapses with a rescue deal for the money provider in danger of faltering amid ongoing crisis ...

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Image courtesy of "3AW"

Tom Elliott on what a future without Armaguard could look like (3AW)

Armaguard might be forced to enter into administration as Coles paused their delivery with the cash distributor. Morning's host Tom Elliott says the company ...

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Image courtesy of "The Shovel"

Armaguard Driver Reckons He Can Think of Way for Company to ... (The Shovel)

โ€œI don't want to give too much away, but I've heard the company needs truckloads of cash if it's to avoid bankruptcy,โ€ driver Callum Hannebery said. โ€œLike we're ...

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Image courtesy of "7NEWS.com.au"

Coles says it's not going cashless after leaked memo prepares staff ... (7NEWS.com.au)

The supermarket giant is preparing for 'challenges with cash movements' this long weekend.

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Image courtesy of "The Guardian"

Coles halves cash withdrawal limit in supermarkets amid fears of ... (The Guardian)

Retailer's action taken to avoid cash shortage if the money-moving company were to reduce or cease deliveries.

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Image courtesy of "SBS"

Armaguard woes: Coles limits cash withdrawals, halts deliveries ... (SBS)

Coles has stopped Armaguard cash deliveries and reduced withdrawal limits in supermarkets as concerns grow about the future of the currency handling company ...

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Image courtesy of "NEWS.com.au"

Deadline nears for Armaguard cash lifeline (NEWS.com.au)

Cash transport distributor Armaguard has just hours to accept an emergency funding lifeline as the embattled operator teeters on the brink of collapse.

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Image courtesy of "The Australian"

Armaguard rescue deal all but dead as it looks to negotiate (The Australian)

Australia's biggest cash users may be forced back to the negotiating table after Armaguard all but walked away from a rescue plan after being handed a $26m ...

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Image courtesy of "ABC News"

Armaguard rejects $26 million lifeline to avoid insolvency as Coles ... (ABC News)

Cash transport company Armaguard has rejected a multi-million-dollar funding deal to help it avert insolvency, as supermarket giant Coles confirms its cash ...

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Image courtesy of "The Australian Financial Review"

Armaguard rescue deal collapses, Lindsay Fox pledges $10m in ... (The Australian Financial Review)

The monopoly cash-in-transit business had previously warned it was losing too much money to operate. Now it has assured the RBA it will continue its ...

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Image courtesy of "The Northern Daily Leader"

Coles resumes Armaguard deliveries after reassurances (The Northern Daily Leader)

Coles has resumed deliveries of cash through Armaguard after company signalled it was confident of staying financially viable in the long term.

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Image courtesy of "The Northern Daily Leader"

Armaguard rejects deal, Coles resumes cash deliveries (The Northern Daily Leader)

Lindsay Fox's Linfox will pump millions of dollars into Armaguard, after concerns about the currency delivery business prompted...

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Image courtesy of "Illawarra Mercury"

Coles resumes Armaguard deliveries after reassurances (Illawarra Mercury)

Concerns about the future of money handling company Armaguard prompted Coles to stop cash deliveries however it's now...

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Image courtesy of "WAtoday"

Armaguard rejects $26 million lifeline after being asked to open its ... (WAtoday)

The nation's key cash transit business Armaguard has snubbed a $26 million lifeline from Australia's biggest banks and retailers, and will receive a $10 ...

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Image courtesy of "Canberra CityNews"

Coles resumes Armaguard deliveries after reassurances | Canberra ... (Canberra CityNews)

Concerns about the future of money handling company Armaguard prompted Coles to stop cash deliveries however it's now resumed normal operations.

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Image courtesy of "9News"

Coles halves cash out limit as Armaguard services resume amid ... (9News)

S๏ปฟervices from Australia's primary physical money company have resumed after Coles halved it's cash out lim...

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Image courtesy of "Reuters"

Australia's Armaguard secures funding from parent, rejects rescue ... (Reuters)

Australia's money transit provider Armaguard said on Thursday it had secured the funding needed to avoid insolvency from parent firm Linfox, easing concerns ...

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Image courtesy of "The Canberra Times"

Armaguard rejects deal, Coles resumes cash deliveries (The Canberra Times)

Lindsay Fox's Linfox will pump millions of dollars into Armaguard, after concerns about the currency delivery business prompted...

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Image courtesy of "The Northern Daily Leader"

Armaguard seeks new talks after $26m deal rejected (The Northern Daily Leader)

Armaguard is still keen to negotiate a cash injection from some of the nation's biggest banks and retailers...

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Image courtesy of "The Sydney Morning Herald"

Armaguard rejects $26 million lifeline after being asked to open its ... (The Sydney Morning Herald)

After asking for financial support and walking away from $26 million on offer, Armaguard will try to negotiate with customers individually, but good faith ...

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Image courtesy of "ABC"

Armaguard rejects rescue deal - ABC listen (ABC)

The cash transportation company Armaguard has rejected a $26 million rescue package aimed at saving it from insolvency.

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