Canadian payday loan provider Cash Store Financial Services Inc. said yesterday that it will seek protection from creditors as it faces liquidity problems resulting from the suspension of its right to offer loans in the province of Ontario, Reuters reported yesterday. In February, the Edmonton, Alberta-based company said that it was voluntarily delisting its shares from the New York Stock Exchange as its share price had plummeted and it could not meet the exchange's listing requirements. Last month, Cash Store said that it was in talks with some of its creditors to address near-term liquidity issues that arose after its right to offer loans in Ontario, Canada's most populous province, was suspended. The company's share price has fallen nearly 98 percent over the last two years and its Toronto-listed shares closed on Friday at 14 Canadian cents.
