Red flags waving for Metcash

Metcash’s debt levels were already too high. The recent result confirmed it and highlighted other problems. James Greenhalgh explains the reasons for the downgrade.

As the veteran yachtsman knows, when the wind strengthens it’s necessary to change tack. Stay the original course and his charge could founder.

For Metcash, the winds are indeed blowing harder. But instead of battening down the hatches and reefing the sails, recent announcements suggest management has let the ship drift. It’s time to re-evaluate the story.


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