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It is very sad for the hard working staff but almost a certain implosion of insolvency will ensue.

S&G have run out of cash, the investors have called in the loans overnight, the bank have just audited the books and confirmed the business is unsustainable; the venture capitalists have dumped vast amounts stock early in the week. This is why SG they have been bulk settling hundreds of claims for what they can get in bulk deals with insurers for the last few weeks in a desperate attempt to get cash in the door.

They have extended their reach with too much litigation and the funder has also pulled cover so they have hundreds of cases tied up waiting Court hearings which are many months away. The Aussie market has also woken up to the SCT track rise and minor injury ban and hundreds have dumped worthless stock.

The word is from a trusted insider in high finance is the banks have pulled the plug and that the staff will be put on notice Friday of imminent redundancy.