Greensill Capital’s local operations have been shut down with dozens of staff losing their jobs ahead of the first creditor’s meeting of the supply chain finance firm’s Australian parent company on Friday.
The swiftness of the job losses - with some 500 roles in Greensill’s UK business also likely to go - underscores Greensill’s weak financial position as adminstrators try to conserve cash for creditors.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
