Latest FREEDOM CARE GROUP HOLDINGS (ASX:FCG) News

Freedom Care Group Holdings reports a modest cash increase to $0.5 million but continues to grapple with delayed payments from the NDIA, while exploring options to relist on the ASX.

Freedom Care Group Holdings has revealed ongoing financial distress with key subsidiaries entering liquidation and persistent delays in payments from the NDIA, leaving the company with a diminished cash reserve and a strategic focus on asset sales and cost reduction.

Freedom Care Group Holdings has placed its main operating entity into administration following a sharp decline in cash receipts linked to delayed payments from the NDIA and an ongoing audit. The company’s cash balance dropped significantly, prompting urgent restructuring efforts.