One of the Australian consumer finance businesses of New Zealand's Hanover Group has a new owner.Once Pty Ltd yesterday said it bought the Hanover Finance business in Australia as of June 30. The purchase relates to Hanover Consumer Finance and not to a separate entity Australian Finance Direct.Hanover Consumer Finance provides store credit and personal loans under the MyBuy brand. The assets of the business are not clear.Meanwhile a review of the financial statements of Once, published through ASIC in recent weeks, shows that the financial services strategy of its owner - Singapore investment group Yanlord Holdings - continues to bleed cash.Once reported a loss of $29 million in the year to December 2007 following a loss of $33 million in 2006. Accumulated losses are $81 million. These are partly funded by shareholder loans of $36 million as of December and since topped up by a further $43 million this year.In Australia Once took over the bill finance start-up Acreis, a business that's gained little traction, though the firm is now investing in a related concept in China (and which may be the source of most recent losses).Once also owns the BidMyLoan website and offers life insurance through a simple, internet-based underwriting module.