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Anchorage Capital sought last-minute funds from Coles

Carrie LaFrenz

Coles made a last-minute offer to push more goods through Scott’s Refrigerated Logistics in a bid to prop up the failing trucking company, but baulked at providing additional unsecured funding ahead of its collapse.

Sources who spoke on condition of anonymity as they were not authorised to speak publicly told The Australian Financial Review that Anchorage Capital Partners, the ultimate owner of Scott’s, had been working with the supermarket giant since December in the hope of securing the group.

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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com

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    Original URL: https://www.afr.com/companies/transport/anchorage-capital-sought-last-minute-funds-from-coles-20230308-p5cqae