I hope none here have been caught. Best of luck to any/all holders.

News SummaryDJ Receivers Appointed to Australian BNPL Company OpenpayOPY$0.195$0.00 (0.0%)$0.00$0.00

06 Feb 2023 08:54:572 ViewsBy Stuart Condie

SYDNEY--Australian buy-now-pay-later operator Openpay Ltd. entered receivership and has stopped funding new consumer purchases.

Shares in Openpay were suspended last week with the company saying it was in discussions with its lenders over ongoing funding requirements.

"Receivers and managers are now in control of assets, operations and trading activities of the company," receivers McGrathNicol said on Monday in a statement.

Openpay last year halted its U.S. operations to focus on its native Australia, citing the rising capital cost of expanding in the world's largest consumer market. It said at the time it hoped to be profitable by June 2023, and reiterated the aim as recently as November.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires