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http://cleaningmag.com/news/ice-acquires-reintec-and-tecserv This is all I could find?
Where is this information from?
Thanks No RNS on HSS site. Dog of a company in fire sale, desperate for cash ? Going concern ? Shareholders will be wiped out
ICE (industrial Cleaning Equipment Services Ltd) is extremely pleased to announce that on Friday 27th October we agreed to acquire 100% of the HSS Reintec and HSS TecServ business.
Should there not be rns releases on lse to inform investors of sell off's ??
I hear they are selling off parts of the business.
From recent presentation �reasonable expectation� around �going concern� After reviewing the above, taking into account current and future developments and principal risks and uncertainties, and making appropriate enquiries, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly they continue to adopt the going concern basis in preparing these condensed consolidated interim financial statements.
Im hanging to one sentence in the last update which said they had returned a profit for the final weeks trading or words to that effect
Sadly yes i am still in here!! The only blessing is i bought this dogcrap and gms on the same day and gms has done me proud and almost covered what this has taken me for.... may as well sit and wait for the miracle thats not going to happen now haha! Im fully prepared for a total loss
You're not still in here are you? It's not buy, buy, buy - rather bye, bye! SDY update due soon that may give this a little leg up but their debt is miniscule compared to this lot.
I wonder when the scumbags that run this company will put all of us investors out of our misery and release the update that is due
From last update by management �Detailed strategic review commenced to drive profitable market share gains with update to be presented in November 2017� That reviews findings will need to be on a par with the 10 commandments to help this co!
Zero, I bought at 62, sold at 72. This company is looking at liquidation or a managerial miracle. From memory, it was floated right before the oil price crash, and that wrecked ssential income flows. Doesn't matter now. The debt pile will wipe it out.
Who ever managed to sell this dogshite company as a viable option to be on the stock market and a good investment opportunity for us investors has pulled the scam of the decade... they must me laughing
HSS were, allegedly, touting themselves for sale late last year and nobody, Speedy included, were (or are) interested. A Plant may do what they did with Hewden, wait for the insolvency and buy the assets for a few quid. At that stage there may be a bit of foreign interest but just ask yourself the simple question, if you buy HSS what do you get? Answer, a huge pile of debt and a business in turmoil. Unless you need a tax loss for your business what is the point? Small tool hire is no longer a viable business. Why hire something for £20 when you can buy it for £50. It's now all about bigger plant hire now and that is a cut throat business where competition is cutting prices to ridiculously low levels in order to win business.
Speedy may come in, but I really think this is too far gone, I would bet on administration and then Speedy picking the bits it wants. That said, Speedy are not very healthy!
Its got until the update in nov to drift !! Piece of junk share i wish i never bought
Anyone willing to guess?
Anyone think that Speedy may come to the rescue ? If so, at what price or will the debt put them off ?
Took a 10k punt on this pre results.... not the best idea i have ever had !!
Jeez-o, bargain buy or barmey for buying? "Centralised engineering" "changes to operating model." Anyone explain how centralising engineering was ever going support a national network? Changes to operating model, well, I'm no expert but I'd say that's a flop! Maybe, a reason for over 3% dip in sales? Maybe a reason for the substantial debt? Slightly more "decisive action required" perhaps.
Too right-how this pile of poo ever warranted a flotation price of 210p is beyond all comprehension. Then, only months later 2 profits warnings!! The reasons for such warnings don't just happen overnight-either someone just didn't see the writing on the wall or the prospectus was a bit sketchy on reality.
Best thing to do Ta-trade - just look but not too closely! When interest rates rise they are going to have hell and all trouble financing their debt pile.
Could have something to do with closing Mitcham HO for finance and IT, recouping losses by selling the building ? And saving costs on approx 85 redundancies?