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reckon thats also the next victim...check out the 12 month chart..(expensive and limited stock)....next I reckon are Cook, Millets (maybe blacks), ....gosh the list goes on....think robert dyas and Holland and Barrett will survive....not much else
Very optimistic Johnny
I work in retail carpets for my sins,i can assure you that the general public have picked up on CR,s problems,once they dessert you,you are in geep doda.Gig sheds are not were its at anymore.
Surely this decent branding and going up market has already been done. ie. Tapi Carpets. carpetright is left to sink,i,m affraid
This is low but dont think it will die....get rid of the stores and use other channels....set up agreements with Homebase or B&Q etc...and obviously go online sending samples out to customers as required....the stores are dreadful... Carpets are still and will always be required but they need decent branding....market products with leading brands e.g. National Trust, William Morris, RHS, and designers....get rid of the iffy brands and go up market.... Would I invest...really risky but we could see this climb above �1 again I'm sure....one investment for the brave
Should have been done two years ago. Too little too late, a prime example of weak, feeble leadership from a clueless Bod out of touch with reality.
In addition, Carpetright currently expects to raise net proceeds of approximately �60 million through an equity capital raising (expected to be by way of a placing and open offer). So I wonder what the price will be for this about 30p-40p, so will need at least another 200m shares. That's some dilution when there is only 71 m shares on issue now.
According to an RNS on 21 March 'the company is currently exploring the feasibility of a company voluntary arrangement' My question...is there a time scale for this exploring to be completed by ? What happens if they dont find the pot of gold! FD
Why do people still blame Lord Harris He hasn’t been with carpetright for 4 years and two years after that the company showed a profit its not until now that its struggling. Maybe down to bad management or maybe down to current conditions .
CPR have already shed quite a bit of square footage, but if it can shed more of the unsustainable rents they�re stuck with through a CVA supported by Meditor and a successful Rights Issues then it�ll be a victory over Lord Harris who saddled the company with over-expansion in the first place (and is now cheekily looking to cherry-pick some of the cpr estate for his own purposes). If the sources are to be trusted, Harris has offered 25M for 100 stores (around the present market cap of CPR which has over 400 stores) which could be viewed as an admission that the current market cap of CPR is much too low and should be at least 4X the present price. Once CPR have shed the rest of the loss-making stores, the pound gains ground, consumer sentiment recovers and competitors continue to lose money then the recovery could be spectacular.
The only thing that should be getting sold at carpetright are the shares. Take the money while there is something left
I have heard that Balta (huge carpet manufacturers) are withholding stock from CR, this is their prime supplier, I have also heard DHL are ending their distribution contract with them, and that they have made cut lengths of most of their stock holding and shipped it to stores, I’d guess it’s to try and generate £££. I wonder if they will reach CVA?
I think that playing stocks is so risky. A friend told me once that once and if you make 10% bow out. He was and is so right. This company will fold or at best survive with few outlets I believe. Share price will halve within a fortnight because there is nothing to save it. Play the markets only with spare cash.
you'd have to be brave to buy into this one currently. a very low priced rights issue is now required but the dilution is going to destroy most shareholders.
tell me who is calling who names i am not
haha get a life silly name calling fool
You make 6 posts in 4 years 3 of them on CPR. Well how is your investment doing in this soon to go bust company imo
mugtoo d---k I worked for C P R for twenty years but apologize for righting second hand news that I heard from a manager and posting it without checking it first BBC news tonight The retailer said it is considering a company voluntary arrangement (CVA) that would let it shut unprofitable shops and slash rents If Carpetright's CVA goes ahead, it would seek to raise raise up to �60m from investors to drive down its debt Neil Wilson, an analyst at ETX Capital, said: "This is very much the nuclear option but one that Carpetright has been forced to take... but it might just have found its compass to navigate its way out of trouble. "As long as the CVA can be agreed, it should free the company up to make some aggressive restructuring." BBC NEWS TONIGHT D --- K
haha all of a sudden people know cpr workers,brilliant
Has this been cancelled yet by their insurers? Once that goes they are toast.
was informed today by a friend who works for C P R that managers in branches got an email to say they were in � 60 mil debt some one else mentioned they and a � 55 mil overdraft 2 and 2 don't add up to 4 I be leave we are only seeing the tip of the iceberg they always say you only see 1/8 above aboard so 7/8 still to come
A bridging loan to pay the bills at Wonga rates, Just to keep trading until Voluntary Administration. Staff morale shot to pieces, CVA will close appx 140 shops, that’s around 700 Staff laid off, Customers will avoid shopping there as the risk is high. And will suppliers still give 90 day credit? I’d be surprised
1.875 million arrangement fee on 12.5 mill loan just to keep the lights on short term until they can borrow another 60 mill with a mcap of 28 mill. Massive dilution and SP collapse on its way imo
Just a minor blip. I think the SP is going to strongly rally now. I predict 100p within next couple months
Spiral financing. Instead of WW working for expenses and protecting capital the guy still has the audacity to draw his �800k salary.