AMA is Australia’s biggest smash repair chain, but suffered losses for years.
A key contract with Suncorp to repair customer cars has finally been inked.
Suncorp will provide funding support to AMA, repair prices have lifted.
AMA still downgraded its earnings outlook for this year.
Suncorp will provide financial support to smash repair giant AMA in a deal the struggling chain has signed with its key insurance customer.
Melbourne-based AMA, whose auditors have flagged uncertainty about it being able to continue as a going concern, on Friday also said it had negotiated new prices for repairing cars of customers of Brisbane-based Suncorp, one of Australia’s major insurers.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
