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Debenhams:Death spiral?


sancho panza
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2 hours ago, Adarmo said:

Second that - I joined to get all set for a big summer party last year. Meat, booze, snacks, plastic cutlery (I wanted wooden for ecomental reasons but only managed compostable plates on that front). The prosecco was brilliant (good job since we bought tonnes of it) very dry which is how I like most of my drinks. 

Problem is it's a cheap shop on a unit by unit basis but you end up spending a fortune because you end up buying this and that and the other.... they're very good at making a compelling proposition for large ticket items like TVs, or Hot Tub pagodas etc. You don't need it until you see it :D 

It’s like an aladins  (sp?) cave. :)

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6 hours ago, One percent said:

It’s like an aladins  (sp?) cave. :)

I went in, asked to have a look around the store before I apply for membership.  They refused to let me, so I never went in again.

Probably for the best - buying huge amounts of food that I actually like just results in it being eaten in too large amounts and too quickly.

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  • 3 weeks later...

https://www.ft.com/content/8a938b58-3f42-11e9-b896-fe36ec32aece

article saying Deb havd to restructure n close shops now rather than later.

And this cracker

Debenhams simply cannot keep issuing them and promising another update on an unspecified date. It must deliver its debt refinancing, CVA and store closures now, while there are still online customers — if not shareholders — left to save. As analysts at Global Data pointed out, Debenhams does not have the “solid ecommerce grounding that is much needed to protect sales as spend shifts online”. Nor does it have the IT skills. Tuesday’s profit warning was issued 45 minutes late — because the group’s email system failed.

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  • 2 weeks later...
32 minutes ago, dgul said:

On today's news they're dead.  I don't know why the share price isn't 0p.

Cue for a load of 55+ blokes o start saying ... resting etc etc.

 

https://www.bbc.co.uk/news/business-47666249

Why?

All that would happen is that the money would go to the fucking LLs, whove been leaching off the well leached corpse left by PE.

There is no fucking point carrying on.

 

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It touched 1p.

Just for fun:

https://www.telegraph.co.uk/finance/2937151/Debenhams-unveils-2bn-float.html

By Stephen Seawright

12:06AM BST 20 Apr 2006

Debenhams has revealed the price range of its long-awaited IPO which will value the department store group at £1.68bn to £1.95bn.

The shares will be sold at between 195p and 250p with the final price to be announced on May 4.

There are a lot of companies, still held by PE - the Deb disaster pretty much killed listing as an exit.

 

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15 hours ago, Ash4781b said:

Mike Ashley won’t be happy. 

I think hes after the Danish shop Debs owns.

I also thjink he did not grasp the difference between equity and debt.

As Debs equity approached 0p he was gettibgn depserate to give it cash, as debt, so he can get the senior debt position.

as a 30% shareholders, his equity can spin.

https://www.theguardian.com/business/2019/mar/22/mike-ashley-makes-100m-offer-for-danish-arm-of-debenhams-sports-direct

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56 minutes ago, Bedrag Justesen said:

It is very weird.  I don't understand how the board can agree to wiping out shareholder equity (and driving the company into prepack) over Ashley giving every shareholder 100% gain* on their start-of-week share value (even if it would damage the Debs brand).

Anyway, end result will be the same -- Debs (as we know it) will disappear.  Funny old games, though.

[* I don't think MA would have happened in the end, but the dream of shareholders getting 100% gain should have been enough]

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9 minutes ago, dgul said:

It is very weird.  I don't understand how the board can agree to wiping out shareholder equity (and driving the company into prepack) over Ashley giving every shareholder 100% gain* on their start-of-week share value (even if it would damage the Debs brand).

Anyway, end result will be the same -- Debs (as we know it) will disappear.  Funny old games, though.

[* I don't think MA would have happened in the end, but the dream of shareholders getting 100% gain should have been enough]

Equity is very junior.

The debtors and creditors are driving Debs.

They've looked at ashleys offer and thought - Fuck that.

 

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https://www.ft.com/content/3289a462-547b-11e9-91f9-b6515a54c5b1



The arrangement fees payable to lenders for up to £200m of new money secured last week, plus a fee for extending its existing facilities for a year, total more than its entire £15m interest bill for the financial year to September 1 2018. On top of that, Debenhams paid inducements of more than £1m to its bondholders in return for their assent to changes in the terms and conditions of the bonds, along with fees to professional advisers.

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The ongoing Deb v. Mike Ashley is bizarre.

Is that tit really getting exposed?

Is SD trading getting worse - I dont see who SD can be doing well.

There's something more than MA/Debs at SD at the mo.

 

 

 

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Looking at SD share price and margins you can sort of see why hes flogging NewU and getting stroppy about his 100m Debs investment.

Last fat bloke finance standing.

 

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On ‎08‎/‎04‎/‎2019 at 10:11, spygirl 🏆 said:

The ongoing Deb v. Mike Ashley is bizarre.

Is that tit really getting exposed?

Is SD trading getting worse - I dont see who SD can be doing well.

There's something more than MA/Debs at SD at the mo.

It does seem very odd, the Debenhams board seemed absolutely hell bent on not letting MA anywhere near the accounts.

Skeletons in the closet to hide I wonder???

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48 minutes ago, Majorpain said:

It does seem very odd, the Debenhams board seemed absolutely hell bent on not letting MA anywhere near the accounts.

Skeletons in the closet to hide I wonder???

Nope.

Other secured creditors want nothing to do with him.

MA only has an equity stake.

 

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Nobody seems to be linking the imminent death of Debenhams with high rents. Another business casualty caused not only by changing customer tastes , but also by government props on housing market.

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Bedrag Justesen

I wonder how many Debenhams are paying full rents and rates anyway ?

Don't they already use MA's tactic of threatening to pull out of locations ?

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Wight Flight
On 09/04/2019 at 14:14, Bedrag Justesen said:

I wonder how many Debenhams are paying full rents and rates anyway ?

Don't they already use MA's tactic of threatening to pull out of locations ?

Might work with rent. Not so sure it would work with rates.

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