Bond Reports Massive Loss: Alan Bond’s beleaguered...
From Times Staff and Wire Reports
Bond Reports Massive Loss: Alan Bond’s beleaguered flagship, Bond Corp. Holdings, announced the third-biggest loss in Australian corporate history. The company reported a loss of $580 million ($758.15 million Australian) for the second half of 1989. The loss was surpassed only by Bond Corp’s own full-year loss of $623 million (A$814.1 million) to June 30, 1989, and a six-month loss of $660 million (A$862.5 million) by its 58%-owned subsidiary, Bell Resources, reported in March. But Bond Corp. Director Peter Lucas said the company was confident it could not only survive but rebuild.
