Hi Fiscus, I still have strong connections with NFK, and yes they are in exactly the same position that Hastie were in, on stop credit with nearly every supplier that they have as no bills have been paid since Nov/Dec....
The outstanding WIP hasn't been collected as it can't be collected... the WIP is actually losses that need to be taken up because jobs have run over the amounts quoted. The amounts are left as WIP leaving the losses disguised. As they say in NFK, it isn't a loss until you take up the WIP.
Simple as that IMO.
NFK Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held
