World’s biggest banknote printer on losing streak

Amazingly, a well-established company that prints banknotes has declared it is facing bleak future. UK-based De La Rue has been printing cash for over half a century. The world’s biggest banknote printer provides bills for nearly 140 central banks, including the Bank of England. One may wonder how such a lucrative business could be on the verge of failure. The reason is obvious: paper money is fizzling out from circulation, thus putting a drag on the printing business. Recently, De La Rue unveiled dismal financial records for Q3 2019. The CEO admitted "a material uncertainty that casts significant doubt on the group's ability to operate as a going concern". The company reported a net loss of £12 million in Q3. As a result, the board decided to suspend its dividend payments. Besides, earnings contracted 15%. Apart from a shift to a “cashless society”, there are other headwinds. De La Rue used to print Venezuelan Bolívars for Maduro’s government. However, Venezuela’s central bank failed to pay its bills worth $12 million.