Financial Digest

Money transporter Armaguard is in peril. Could cash be dead sooner than we think?

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This article first appeared in The Conversation. If you’ve ever taken money out at an Australian ATM, been handed $20 change at a supermarket or paid someone in cash, you’ve probably used the services of Armaguard. Owned by Linfox Group, Armaguard is Australia’s largest currency transport business, servicing about 90 per cent of the cash-in-transit market. But the company is struggling.

Having now accepted a $10 million lifeline from its parent company, Armaguard will continue to operate all of its cash-in-transit services for the moment. But it remains to be seen what extra financial support it will be able to leverage from the businesses it currently services.

 

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