lol they will be making a loss this year and next year they will probably have more excuses why they couldn't deliver.
The other major threat is that many of the child care centres are residential/commercial unsuitable for other commercial operations and therefore will be not be immune to the downturn in the residential property market.
Given that the ROA from child care doesn't justify commercial property valuations I wonder if they will write them down appropriately?
ABS
a.b.c. learning centres limited
morgan stanley announcement, page-11
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