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Do you really think LSL will be paying a premium price for a £95m debt bill and huge closure costs in reducing branches and redundancy costs
This is a marriage born out by necessity not synergy forced on CWD by the banks
Sounds to me is that the banks have invited LSL whose debt is less than half CWD Given upon CWD 's ability to negotiate
deals of any description successfully Suspect that the deal will not be doing as usual any favours of private investors
Looking at LSL BODS again lacking anyone with hands on property selling experience Quite amazing when its the most important revenue stream function yet no property qualified person is deemed suitable to be elevated to a main board position
A big disconnect .
Deputy Chairman Shannon has been around the block and was quite well thought of at St Mods
Big overlap with their Reed Rains and CWD's Entwhistle Green, Bridgfords and Blundells .
Once again the market keeps us on our toes, opened at £3.60, up to £3.71, down to £3.19, back to £3.30.
I thought wait until £2.50 before topping up, cursed myself when I missed £2.97 as being too bearish when they hit £3.80.....now I really don't know.
Long experience now makes me treat this share as a short term trading opportunity as holding long term has always resulted in pain.
Good luck one and all.
Yes sifting through the brands and branches , the success stories are few and far between
Lets take an branch who is performing well with a respectable number of listings say Northfield Dixons in Birmingham Current sales have shot up where they have an excellent 34 out of the 52 listings away which is more than the total 8 Central London Branches of John D wood at a lot less rent .
Just look at John D Wood -Sloane Square A Ranger less free zone .Just the 16 for sale and one single SSTC and that is one which was listed in May 2018 and must be the cheapest flat in the area as its only £350k ! They must be doing their proverbials
https://www.zoopla.co.uk/for-sale/details/50457293
https://www.zoopla.co.uk/for-sale/branch/john-d-wood-and-co-sloane-square-sales-london-54003/
Great performance for Northfield but alas only 1 new instruction in the whole of last week to replenish the stock
Mann &Co although currently getting some away currently have 599 instructions with 29 sales branches that's less than 20 instructions per sales branch far too little to start making inroads in cutting into the substantial debt with only letting revenue to supplement.
As for Chappell & Matthews they are going into reverse with just the 40 instructions amongst the 5 sales offices .Just 73 to They must be losing money hand over fist https://www.chappellandmatthews.co.uk/branches/