Coles halves cash withdrawal limit in supermarkets amid fears of Armaguard collapse

Retailer’s action taken to avoid cash shortage if the money-moving company were to reduce or cease deliveries

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Coles has halved its cash withdrawal limits across its supermarkets and suspended cash deliveries amid mounting concerns over the viability of Australia’s primary physical money transit company, Armaguard.

The action, designed to avoid having cash orders stuck in trucks if Armaguard collapses, comes during a period of tense negotiations, led by the banking sector, to keep physical cash flowing around Australia by offering the Linfox-owned transit company a rescue package.

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AAP contributed to this report