I am of the same thinking...seeing that a new CEO came in,...

I am of the same thinking...

seeing that a new CEO came in, naturally his job is to perform the turnaround, and so it means a complete overhaul.. I have heard impressions or rumours that the 123 careers contract was costly and possibly in favour of someone close...

When they first announced they will buy it, I thought makes sense as probably the easiest legal way out of the staffing contract...buy the company , cancel the contract...(STEP 1 in the rebuild of ABS)...
Then they announce recently they will NOT buy, and seeking to cancel contract and hire the necessary stuff..

I don't see this as signs of a collapsed company..I see it, yes, as troubled company but also a troubled company with some smart momentum to turn it around.

Whether they did go to govt or not...might not be critical point...cause I am sure anyone with the job of turning around a company with high social impact might seeking some govt backing... it happens in other industries, manufacturing, motoring, etc...doesn't hurt to ask...

I have no idea what the costs of the move to US has been all up, and what % recovery was made following the part sale to MS, but I would think given money coming in from UK selloff, and option to perhaps selloff remainder of US holding, it can return to the early days company of AUS prescence and concentrating on a rebuild. The cash would help short term funding etc....

Once the business fundamentals are sound again, perhaps they can refinance and restructure their debt..

I am not ready to write these off yet.
I have shares, a small parcel...
Its all my opinion and interpretation of the situation, but nothing I have said I know for sure..so do your own homework...lets hope for some good news.