Home Loans South Africa

Blue ‘bankrupt’

Blue ‘bankrupt’
http://www.fin24.com/Companies/Blue-bankrupt-20100621

The JSE warned Blue on Thursday that the company faces suspension unless it posts results before the end of the month. Blue reported a R26m profit in the year to end-February 2009. “The extent of this loss is so severe that total group consolidated liabilities now exceed the consolidated assets by R2.9m,” the group said in commentary accompanying the results. According

(via Instapaper)

I am posting this news since Blue was also a popular low cost home loans provider in SA (home loans under R450 000). 

Posted via email from SA Home Loan News

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