VTL Says California Sale Nearly Final

Nz Herald:

Troubled vending machine franchise company VTL Group says it is at the due diligence stage in the sale of its 24seven vending business system operation in southern California.

VTL is the parent company of Nathans Finance which went into receivership last August, owing $166 million to investors.

Last month VTL reported an audited loss of $133m for the 14 months to August, including write-downs and provisions relating to its Service America Group company of $105m.

Read More