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ABC Learning Centres Limited – did the annual reports give enough warning?

Apri 2018 - By Andrew Mc Robert

Following the demise of ABC Learning Centres, lenders and investors have faced
the question of whether its financial statements provided sufficient warning
signals. Careful reading of the accounts indicates that despite disclosure of ABC’s
relentless growth, the accounts showed no material strengthening of its financial
position. And, more detailed analysis reveals ABC’s increased gearing, and the
decline in shareholder returns and its capacity to service the gr

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