13 unlucky number for Capital + Merchant

Signs were ‘all there’ in latest collapse – 30 Nov 2007 – NZ Herald: New Zealand National news

Down she goes, The country’s 13th largest finance company with assets of about $250 million, Capital + Merchant has gone down the proverbial gurgler becoming the 12th such company to tank in 18 months.

C+M had a high profile because of its sponsorship of TVNZ news. Looks like our own sub-prime problem is actually here rather than swept under the carpet like Cullen would have us believe.

C+M specialised in the property market. Watch for more failures now as confidence in the market takes more of a pounding.

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