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Debenhams Share Chat (DEB)



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WorldGoRound
Posts: 1,961
Opinion:No Opinion
Price:0.00
Bitcoin valueless
Today 13:08
 
SilverSpoons
Posts: 801
Opinion:No Opinion
Price:0.00
RE: re not over by a long shot
Today 11:04
Was any attempt made to raise cash from shareholders before the NAV dropped below zero? Why were constant offers by MA to inject cash into the business continually rejected in favour of creditors money? Were loan covenants unreasonably favourable to creditors and designed to deliberately to hinder any shareholder raising of funds? All good questions for our learned friends to consider, and none of which anyone not in possession of all the facts is able to answer, and that includes you daniel.f
Metamorphosis84
Posts: 1,194
Opinion:No Opinion
Price:0.00
RE: re not over by a long shot
Today 11:02
" How many times does this have to be explained?"

Oh at least a few more times between now and when this latest hot air blows over and comes to nothing.
daniel.f
Posts: 517
Opinion:No Opinion
Price:0.00
RE: re not over by a long shot
Today 10:36
Not strange at all – for the (probably not) last time, the BoD didn't really have a say as the lenders were in charge. How many times does this have to be explained?
maidit308
Posts: 1,048
Opinion:No Opinion
Price:0.00
re not over by a long shot
Mon 21:20
thanks for the link 'SILVER'

i can see this getting very nasty indeed and a lot of PI
getting caught up in the game..

i was watching ZAK on VOX today and he was talking about this breaking news
story also .. he said that it's strange DEB BOD would rather go into administration
and close 50 stores putting lots of PI out of work than to let MA be there CEO
what are they hiding???

STRANGE INDEED...
Pearls
Posts: 1,778
Opinion:No Opinion
Price:0.00
CVA deadline
Mon 11:32
I believe MA has to lodge papers by 6th June on this.

Really he needs to get the support of other large shareholders on side, but operating as he has previously does not necessarily enamour him to them. Still, if there is even a small chance of managing to reverse the administration, it will have to be pursued, especially as he was willing to keep all the branches running.
Pearls
Posts: 1,778
Opinion:No Opinion
Price:0.00
RE: Not over by a long shot
Mon 11:13
From yesterday's CityAM article:
"The sportswear group is set to challenge two company voluntary arrangements (CVA) that could lead to the closure of 50 the chain’s 166 stores, with rent cuts expected on dozens more.

A source close to Sports Direct said the company is currently in talks with a number of third parties, including landlords, about a possible joint legal challenge.

“The CVA votes, with one receiving 95 per cent support and 97 per cent for the other, bear more resemblance to the presidential elections in North Korea than they do to a fair, open and honest process,” the source said.

It came as Ashley’s retail group issued a statement outlining “serious issues” with the department store chain’s CVA process.

Sports Direct criticised the turnaround plan and slammed a sale process run by Debenhams's owners, a consortium of the retailer’s lenders led by US hedge funds.

“This was a highly unusual sales process given the incredibly short and unrealistic timescales for a group and matter of this size and complexity, and was closed only hours before the CVA votes themselves,” the firm said.

Sports Direct also raised concerns about the department store’s plan to close its main distribution centre, leaving it with only one remaining distribution centre for its 100 stores.

“With an unprecedented turnout, the CVA proposals had overwhelming support from landlords,” a spokesperson for Debenhams said.

“Landlords voted heavily in favour - well above the 75 per cent majority required - and we reject any suggestion that the process was not run properly.”

A spokesperson for FTI, Debenhams’s administrator, said: “We are entirely satisfied that the sale process was robust and that the timetable was reasonable.”

The dispute is the latest twist in a long-running war of words between Mike Ashley and Debenhams.

The department store rejected a £200m takeover offer by Sports Direct, which was contingent on Ashley taking over as chief executive."
WorldGoRound
Posts: 1,961
Opinion:No Opinion
Price:0.00
Little people
Mon 07:45
Little people cant short. so no point in trading.

e only function of Shareholders is to provide start up companies
ADVERTISEMENT
with one source of funds
through an IPO in order to get them running and off the ground & self sufficient.
Once thats been done Shareholders are no longer needed and can be ignored.
In the old days being a shareholder was synonymous with being a rich benefactor,a patron,
a contributor and there were grateful rewards in kind as a consequence.Trips to The races,
complimentary crates of champagne,discounted shopping offers and the like.
Nowadays you get NOTHING.Not even a fancy bit of paper with a fourishing crest on it.
Companies are managing very well without shareholders thank you very much.
Their IPO was a long long time ago.And they do not need shareholders anymore.

Today there no point in buying shares.
The whole system is a giant inhuman automated roulete ponzi system run for the benefit
of a small insode clique of shorters and manipulators who occassionally all pile into a chosed share at random
to keep up some hope that "see shares CAN go up a lot" but chances of you picking it are 1000:1.
Meanwhile the fat cats in the know sit around in non moving shares raking in dividends
knowing that THEIR share is safe and will not fall.
But it wont go up either.
Again go figure which these ones are 1000:1 chance picking it.
Shares are like votes at an election.
Companies only need them when they want money either for start up
or when they have run into debt and they need more money.
Like a desitute student going home to mummy and daddy for a bail out.
After thats its tara and thank you very much until the next begging bowl appeal.
maidit308
Posts: 1,048
Opinion:No Opinion
Price:0.00
re telegraph online
Sun 23:54
good find KNIGELK the story broke 6.15pm this evening

goes to show there is still hope for us shareholders
well done MA don't give up and let them robbers run off with £150mill of your hard
earn't money
Pearls
Posts: 1,778
Opinion:No Opinion
Price:0.00
Supreme Court judgement
Sun 20:51
MA will have a much easier task in getting retribution for shareholders if the SC make a judgement in our favour before the CVA deadline
KRSS
Posts: 4,124
Opinion:No Opinion
Price:0.00
RE: SPD
Sun 19:56
Typical thug is playing here a victim card,
KNIGELK
Posts: 21,478
Opinion:No Opinion
Price:0.00
SPD
Sun 18:50
Can't read the full article but SPD believe the votes in favour were "unusually high" and a joint challenge with other parties including landlords might start against the CVA...
I did have a feeling MA would not let this go without a fight... he has a lot to gain and probably not much to lose (ex court costs) taking the legal route..
KNIGELK
Posts: 21,478
Opinion:No Opinion
Price:0.00
RE: Court case
Sun 18:44
Telegraph online: Breaking news - Sports Direct considers legal action against Debenhams restructuring .. i
KRSS
Posts: 4,124
Opinion:No Opinion
Price:0.00
RE: Court case
Sun 16:36
Well known band of thugs go disperse or low profile after major robbery, same with Mike A & Board right now.

National Scandal- They brought Deb one step closer to liquidation including MA & BOD, that is national scandal.

Small investors can go into litigation after MA buys Debs from lenders, probably with int next few months. That will give firm footing to court case, and is the value valley.
Just my opinion above, but lawyers can give expert opinion. i will try to contact other major shareholders
Midway
Posts: 1,245
Opinion:No Opinion
Price:0.00
RE: Court case
Sun 10:13
No chance bankers lost billions and got off Scot free in this country because our MPs are useless and most out for their own agenda so this is a dead parrot although I hope I’m proven wrong and now the hyenas will move in on TC not one I will be trading all bets are off with that one and a shame for their work force it’s bounced back before but I doubt it this time with that Rns.
Metamorphosis84
Posts: 1,194
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 21:25
"@metemorphosid. In the event that a court awarded an amount per share to all shareholders then anyone net short at yhr moment the shares were suspended would have to pay. It's the same as when a dividend is payed."

Oh right I see. So in your imaginary court case, if you went long, you would get paid back because you would claim that you were misled into going long.

What if those who went short claimed that they were misled into going short?
Metamorphosis84
Posts: 1,194
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 21:22
"Who is actually bringing a court case"

No one.
mick-b
Posts: 8,444
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 20:13
FROM A "SMALL CAP VALUE REPORT " - STOCKOPEDIA

The Financial Reporting Council has only today imposed sanctions on KPMG and one of its partners for work done on the Co-Op Bank's accounts.

So which year's accounts would these be? FY December 2009! Yet again, we see how slowly the wheels of justice turn.

I'd also like to point out that cases like the Co-Op, Autonomy and Quindell are all very high-profile.
In the small-company world, dodgy accounts are much less likely to even be investigated. Tread carefully!
seac
Posts: 1,115
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 19:52
Who is actually bringing a court case??
SilverSpoons
Posts: 801
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 19:45
@metemorphosid. In the event that a court awarded an amount per share to all shareholders then anyone net short at yhr moment the shares were suspended would have to pay. It's the same as when a dividend is payed.
KRSS
Posts: 4,124
Opinion:No Opinion
Price:0.00
RE: Court case
Sat 12:27
Mike Ashley and Board are partners in crime and brought Deb into administration, few months later he will buy Debs. Then rest of investors have chance to go into litigation.
KNIGELK
Posts: 21,478
Opinion:No Opinion
Price:0.00
RE: Thomas Cook
Fri 23:22
All I will say is that it's not advisable to make promises because 9/10 times you will break it in a BB thread that has your interest. Although there is one thread on LSE were I promised not to post on this year and so far have managed it. As for the courts - I guess the question really is "have directors been sued before for misleading shareholders?" "Have any court cases been successful? Surely a few directors have been fined or jailed over the decades from various misdeeds .. Debenhams will not be the first company to not be fully transparent in their RNSs imho. Look at this another way - if the directors had been in secret talks and suddenly a takeover was agreed at 10p..when in a previous RNS they stated there were no ongoing discussions - would shorters ..suddenly burnt by the share price rise be calling foul? It can work both ways so perhaps try to be a bit understand of a few shareholders still not being accepting of what happen here (yet)
DC2007
Posts: 521
Opinion:No Opinion
Price:0.00
RE: Thomas Cook
Fri 22:47
Hi Pearls,

I'd not read the City/AM article until now. What do I think of it? Not much. I'm not a lawyer and that expertise would be needed to evaluate the merits of the argument. That aside, it makes no mention of Debenhams whatsoever; City/AM are hardly heavyweights in the financial press; Supreme Courts take ages to do anything and can reject the whole thing.

Basically, I'd infer nothing from that article to suggest there will be any change with Debs. Debs -- for former equity holders -- is settled and done. Best wear the loss and learn from the experience.

Atb
IfIonlyknew
Posts: 191
Opinion:No Opinion
Price:0.00
RE: Thomas Cook
Fri 20:11
@Knigelk... I made an error in saying that apologies for posting again. Am I the first to make such a bad error of judgement here!




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