Plus SMS face cash crisis.. again
Link: National Business Review (NBR) - Business, News, Arts, Media, Share Market & More
More rumblings from New Zealand, with another twist in the saga of Plus SMS…
Text message company Plus SMS is facing a cash crisis following its sacking of a senior manager for gross misconduct and alleged fraud.
Last month the company reported a loss of $11.9 million for the year to March and this week it slashed its revenue forecasts for the coming year by 44% due to issues associated with senior manager Nicolas Barrera Rios.
Plus SMS said this week it had terminated the employment contract of Mr Barrera Rios and had initiated legal action to recover potential damages for lost earnings.
