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Cattles Getting Slaughtered

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Have you herd this?

UK sub-prime lender Cattles has said it may cut as many as 510 jobs at its Welcome Financial Services subsidiary.
Cattles discovered it had an extra £700m of bad loans on its books following a review of its accounts earlier this year, which it put down to a failure of internal controls.

I remember a few months ago, some were saying that Cattles share price was a bargain. A Stampede for the door will now be underway as many shareholders will have a serious beef with the way the company has been run.

An extra 700m caused by failure of internal controls, or, lending to bullsh1tters. :rolleyes:

Edited by Wait & See

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Have you herd this?

I remember a few months ago, some where saying that Cattles share price was a bargain. A Stampede for the door will now be underway as many shareholders will have a serious beef with the way the company has been run.

An extra 700m caused by failure of internal controls, or, lending to bullsh1tters. :rolleyes:

Total debts approaching 1.5 billion. Six Directors expelled, and PWC in the dog house for lack of auditing controls. You couldn't make it up.

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