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Agree completely max, if you bought these recently in the past few months and are going to sell when the administrators are on standby seems ridiculous, every business has to put a contingency plan in place for worst possible scenario. This was always a gamble, going to be a wild few weeks. If this is still here in July it will be party time
Not much of "new" news IMHO.....the price is what it is (more or less....)because it has been a possibility for quite a while now.....the fact the time is now ever so close to crunch time is inevitable to push the rumours mill faster.....expect sharp swings in the coming 2 weeks starting with probably a big drop tomorrow.....how it will end is anyone guess...high risk so only for a punt,and certainly not for the faint hearted....IMHO.
I think the price will drop as people are scared by the headline, but as I said nothing has changed from last week. All the story is saying is administrators are being called in if a deal can’t be reached, there’s also a few positive lines in there.
Sources said this weekend that the fate of struggling Intu remained in the balance, although people close to the company expressed "cautious optimism" that its banks would agree to step back from the brink.
People close to the company believe its lending syndicate is likely to demur from forcing it into insolvency because of the potential value destruction that would occur.
Securing alternative managers of large shopping centres as the retail sector attempts to recover from COVID-19 would be an uncertain process, according to insiders.
It is unclear whether an alternative asset manager with Intu's expertise or negotiating power would be available.
With the news on Saturday it looks like curtains for INTU!!?? WELL you win some and you lose some. The share price will drop of the cliff on Monday morning.
So
If they get broken up , I lost my bet :-(
If they shrink I won my bet :-)
That's painful. I feel your pain. But saying that I wouldn't had invested in this company 5 years ago. This company was already in decline after the crash of 2008. Year on year there income dwindled and net debt keeps climbing. I think this company can go two ways.
1) broken up
2) shrink in size.
Think I know what the bs stands for....
never know a stock with such a slow long protracted painful and consistent decline as intu , it virtually slowly and gradually tanked in straight line as well as being jilted at the altar by hammerson along the way and now its on life support , and I paid a quid a share 5 years ago , who could have foreseen it ? and I am still unable to see any upsides or remedies and now covid has the wooden stake above the slow beating heart of intu , cheer me up fella s
I think people do know what they are in for. I think most people hold shares in INTU know thay are not investing but placing a bet. It is not denial but a chance to double their money or nothing.
Just like the national lottery, you know the chance of winning the jackpot is almost zero but SOME ONE ALWAYS SEEM TO WIN!!!
Posters here still in denial.
Death by a thousand cuts .Victorias Secret gone into admin today who are in a number of INTU centres ,Trafford Centre Cardiff ,Milton Keynes including Lakeside which is one of the centres within the bondholders reach
https://www.retailgazette.co.uk/blog/2020/06/over-800-jobs-at-risk-as-victorias-secret-uk-falls-into-administration/
How will INTU prevent the bondholders taking them over