There’s nowhere to hide at embattled Panthera Finance. Street Talk can reveal a crack team of accountants has landed at the debt collection outfit to clean house.
PwC’s corporate restructuring team is on the case, sources said. It is believed the firm’s remit is to slash headcount, optimise operations, value the assets and present options back up the chain. Over 130 staff have been let go from the business in recent months, Street Talk understands, as part of an internal restructure and the sale of a CBA loan book to ASX-listed Pioneer Credit in December.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
