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What's going to collapse next...


TheCountOfNowhere

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Wight Flight
7 hours ago, Ash4781b said:

I suspect This week it’ll all be about Debenhams Plc. 

Plc should stand for public liability company.

8,000 staff, many of whom will have been there for years.

That's at least £40m of redundancy payments picked up by the taxpayer.

I would be very happy to see Directors' bonuses reclaimed for the last 5 years to cover this.

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8 hours ago, Ash4781b said:

I suspect This week it’ll all be about Debenhams Plc. 

My aunt got me a £30 Debenhams voucher for Christmas.  I couldn't believe it.  Anyway, it was spent before NYE and the goods arrived (took ages) last week.  I just don't understand how she couldn't see that they're dead man walking (and that it isn't always better just to give cash).

Anyway, I agree -- we'll see quite a bit of action from Debs and others from here to mid Feb as their bills come in.

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Wish our lass would get that bloody Debenhams voucher spent that my uncle bizarrely bought her for Christmas. 

Yes, it’s a nice top, I like it, just get it bought ffs

:D

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spygirl
21 minutes ago, dgul said:

Debs gone sub 3p.

Market cap ~£38m

Teleag link form a long time ago:

 

By Harry Wallop

12:01AM GMT 20 Jan 2006

Analysts yesterday questioned whether Debenhams' private equity owners could win over City investors for a flotation of the department store group this year - just two years after it was taken private.

Debenhams, which has £1.87billion of debt, has asked its four usual banks - Merrill Lynch, Citigroup, Morgan Stanley and Credit Suisse - to submit proposals to handle a possible public offering.

A market capitalisation of £3billion is being talked about.

3,000,000,000 -> 38,000,000

The power of private equity. Or rather, stuffing a company full of debt and taking cash out of it.

 

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18 minutes ago, Lavalas said:

Wish our lass would get that bloody Debenhams voucher spent that my uncle bizarrely bought her for Christmas. 

Yes, it’s a nice top, I like it, just get it bought ffs

:D

My guess is that it'll be worthless this time next week.  Might not be though.  Does she feel lucky?

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Bedrag Justesen
On ‎09‎/‎01‎/‎2019 at 13:01, Bedrag Justesen said:
Chicago Tribune
Jan 16, 2019
la-breaking-alert-synbol-20170424  BREAKING NEWS  la-breaking-alert-synbol-20170424

Sears bankruptcy auction: Eddie Lampert's hedge fund wins company, saving it from liquidation

Wednesday, January 16, 2019, 6:46 AM CT

Eddie Lampert won a bankruptcy auction for Sears with a plan that will keep the bankrupt retailer in business and seek to save tens of thousands of jobs, according to a person with knowledge of the discussions.

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Sugarlips

A detailed list of the M&S stores that have closed and are a out to close and job losses incurred etc;

https://www.express.co.uk/life-style/life/1072465/marks-and-spencer-stores-closures-closing-full-list-where-shops

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invalid
On 16/01/2019 at 11:39, Lavalas said:

Wish our lass would get that bloody Debenhams voucher spent that my uncle bizarrely bought her for Christmas. 

Yes, it’s a nice top, I like it, just get it bought ffs

:D

My missus went into the local Debenhams the other week, even she said how dead it was in there. Last few times I've been in there the staff outnumber the customers (reminds me of Maplins). Like most of their stores its huge and there is no way it can be making a profit. Even on the weekends before Xmas there was hardly anyone in there.

I wonder how the big stores at the big shopping centers like Lakeside and Westgate are doing? Anyone been to one of those recently?

I remember years ago it used to be rammed, nothing much seems to have changed though so I assume its just that the business is going elsewhere?

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1 hour ago, null; said:

My missus went into the local Debenhams the other week, even she said how dead it was in there. Last few times I've been in there the staff outnumber the customers (reminds me of Maplins). Like most of their stores its huge and there is no way it can be making a profit. Even on the weekends before Xmas there was hardly anyone in there.

I wonder how the big stores at the big shopping centers like Lakeside and Westgate are doing? Anyone been to one of those recently?

I remember years ago it used to be rammed, nothing much seems to have changed though so I assume its just that the business is going elsewhere?

Well, fundamentally it is either less business overall or business going elsewhere.

But there is a specific effect on Debs (and any other edge-of-bankruptcy shop) -- part of the deal is that the returns policy and the warranty is relatively good -- but it won't be worth anything if the company folds between now and then.  So you don't even buy the stuff in the first place (and you go elsewhere).  This is why some companies (particularly those with a 'good name') go into a death spiral.

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Green Devil
On 16/01/2019 at 11:58, spygirl said:

Market cap ~£38m

Teleag link form a long time ago:

 

By Harry Wallop

12:01AM GMT 20 Jan 2006

Analysts yesterday questioned whether Debenhams' private equity owners could win over City investors for a flotation of the department store group this year - just two years after it was taken private.

Debenhams, which has £1.87billion of debt, has asked its four usual banks - Merrill Lynch, Citigroup, Morgan Stanley and Credit Suisse - to submit proposals to handle a possible public offering.

A market capitalisation of £3billion is being talked about.

3,000,000,000 -> 38,000,000

The power of private equity. Or rather, stuffing a company full of debt and taking cash out of it.

 

Sort of like a QE thing.  Take a load of debt out. Have a party then write it all off. Like printing money. Happens all the time!

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spygirl
4 minutes ago, Green Devil said:

Sort of like a QE thing.  Take a load of debt out. Have a party then write it all off. Like printing money. Happens all the time!

No.

QE is like taking a cake and slicing it into more slices.

PE if the leverage lunancy kind is more what mafia does - roll up at co and use its credit line til it goes bust.

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Interestingly (but utterly unsurprisingly) Intu have decided that 4 House of Frasers stores they were happy to see close down can remain open

https://www.bbc.co.uk/news/business-46959813

 

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spunko

Never been in a PV but looks like another private equity expansion that has been over egged and the alleged accounting scandal is perhaps not the only reason. 

Let's all blame the accountant cos it's easier than trying to understand private equity sharks

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spygirl
7 hours ago, spunko said:

Never been in a PV but looks like another private equity expansion that has been over egged and the alleged accounting scandal is perhaps not the only reason. 

Let's all blame the accountant cos it's easier than trying to understand private equity sharks

Its where middle class women go and dont eat posh cake, well, not when their friend is looking.

There's no PE involvedin PV.

This is a pure internal scam and the company accountants being hopeless.

 

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spunko
39 minutes ago, spygirl said:

Its where middle class women go and dont eat posh cake, well, not when their friend is looking.

There's no PE involvedin PV.

This is a pure internal scam and the company accountants being hopeless.

 

Risk Capital Partners is a PE outfit 

That Luke guy made his money from it. 

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spygirl
1 minute ago, spunko said:

Risk Capital Partners is a PE outfit 

That Luke guy made his money from it. 

I thoguht LJ made his mony from a very long form of pump n dump - setting up companies, getting revenue thru them, then listing and leaving.

 

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spygirl
4 hours ago, Democorruptcy said:

Metro Bank

Down another 28% today to about 15.80 year high 40.56

Ive got 2 metro bank pens and a canvasy bag.

They had staff handing hem out for freebies as they moved into a v expensive corner site on a big shopping centre.

The woman who gave it to me looked like stripper whod go all the way in  a booth for an extra 20. I thinkthats where the yrecruited her.

I expect the pens to outlast the bank.

 

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stokiescum
26 minutes ago, spygirl said:

 

The woman who gave it to me looked like stripper whod go all the way in  a booth for an extra 20. I thinkthats where the yrecruited her.

I expect the pens to outlast the bank.

 

Bargain

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Calcutta

I remember a few years back Metro had a deal on I was interested in. Free withdrawals abroad? Something like that. I considered it, then thought nahhhhhh I'm not giving those shysters my money to look after.

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Option5
21 hours ago, Errol said:

Patisserie Valerie went into administration this evening.

They have a lot of franchise outlets in Debenhams stores that they'll be closing, the snake is eating it's tail.

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