Subprime Lender Goeasy Sees Elevated Writeoffs Before Business Improves

Subprime lender Goeasy Ltd., which surprised investors weeks ago with a surge of bad debts in its vehicle financing business, said it expects loan writeoffs to remain elevated for a while before getting better later in the year.

The Ontario-based firm reported a fourth-quarter loss of C$8.93 per share on an adjusted basis, compared to per-share earnings of C$4.45 in the prior-year period.