Forge in the furnace

It will go down as one of the swiftest, most remarkable declines of recent years. Forge Group, once a darling of the ‘if it’s got a high ROE, buy it’ set, has reportedly brought in administrators. The business is likely to be bankrupt soon. ANZ, the bank that rescued the company as it emerged from a trading halt late last year, has now withdrawn its support. Although there is little asset value in the business, Forge did have valuable contracts which are now likely to be retendered or bought out. Shareholders, however, are unlikely to see any of their...

It will go down as one of the swiftest, most remarkable declines of recent years. Forge Group, once a darling of the ‘if it’s got a high ROE, buy it’ set, has reportedly brought in administrators. The business is likely to be bankrupt soon.

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