National Tyre & Wheel Ltd. (AU:NTD) has released an update.
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National Tyre & Wheel Ltd. has withdrawn its financial guidance for FY25 due to challenging market conditions and revenue shortfalls. The company anticipates it may not meet its financial covenants with the Commonwealth Bank of Australia by the end of the year and is in discussions to renegotiate terms. Additionally, a leadership change is set to take place as Warwick Hay will assume the role of CEO from January 2025.
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