Debt chasing outfit Collection House has unveiled a $90 million hit to key assets, as it posted a massive loss and warned the coronavirus pandemic has weakened the amount of cash it is recovering. The company had not been able to comply with loan covenants and needed to come up with a recapitalisation plan by September, according to accounts released on Tuesday afternoon. Auditors from KPMG flagged “material uncertainty” about Collection House’s ability to continue as a going concern. But the company’s top brass said plans were afoot to obtain capital and the business had established a “solid foundation” for … Continue reading Collection House unveils $90m debt hit