1 Sep 2009

Strategic Finance will struggle to fully pay investors

4:54 pm on 1 September 2009

Ailing finance company, Strategic Finance, says it will struggle to pay all the money it owes 15,000 investors.

The company's losses have risen nearly five-fold, to $174.7 million in the year to June, due to a jump in bad debts.

Strategic Finance is telling investors they will now get between 85 cents and 93c in every dollar owed, and cannot guarantee it will make its quarterly payments, which it is supposed to start paying soon.