Distressed Lender Callidus Reports Second Consecutive Annual Loss

Callidus Capital Corp. — a Toronto-based, publicly traded distressed lender majority owned by private equity firm Catalyst Capital Group — reported a fourth-quarter net loss of C$115.4 million ($86.6 million), or C$2.02 per share, Monday. The firm and said it had faced “significant operating losses and negative cash flows from operations in the current and preceding year.”