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250,000 buy. I’m tempted to play. Someone must know something!
> Morrisons bought McColls and is now planning to close many of the shops.
> Asda has just bought up Coop
> Benson Beds has recently bought EVE Sleep
These are just three, there will be so many more in the coming months ..
The way PPL are buying now is drastically changing.
Am sure Joules we continue to move forward but it will involve lots of changes and it will take some time to see any fruits !!
Looptheloop
They first announced a number of plans back in February, it has been a long road since then ....so that is now 9 months of continual plan development and actioning
Th inflation levels and economic downturn has been a kick to the stomach for all retailers since then of course which hasnt helped
Yes, I understand that. I suspect that the turnaround plans were not started soon enough, how ever long ago that was.
Looptheloop
you have to create the turnaround plan and the alternatives they have put together before you then consult on them
I think you are misunderstanding what is being said
With only 112m shares , I have always been utterly amazed they didn't raise funds to pay for Garden Trading in the first place, instead of using bank loans and cash.... and now..if they do it..it will of course be at a massively lower price ..
I cannot see the lenders not wanting a fund raise debt for equity ....
Have been a loyal buyer of Joules products for the last decade, superb quality and lovely fitting clothing.
Think there will be a dilution here to keep it afloat, shame really that before it got into trouble measures were not taken before !
Good luck whatever you decide to do!
Might just be me...but I saw that as rather positive - first time it's been mentioned that Tom Joule wants to be a cornerstone investor, financing and trading issues have been well known for a while
Let's see how this plays out, but I presume we'll hear in the next week or two
“It is the group's intention to commence consultation with key stakeholders, including suppliers, on the turnaround plan including potential alternative options, should they be required." - Should they be required!!! How close does it have to get to the end point before someone decides that they are required?
Erm, shouldn't this have been started months ago? If they still aren't doing this yet, then surely, it’s already far too late. Surely any one that pumps money in at this point is just delaying the inevitable. The trading outlook continues to be worse than forecast. The turn around strategies will only work if customers are there to buy the products. Evidence shows that they aren't wanting to buy Joules products.
No , it's back down again: AJB currently offering 10p to sell
IMHO ,rNs. was to make it drop,
as it was rising too much for there liking !
Whether the sales are slightly up or down doesn't change any of the current plans ...the ONLY thing that matters right now is that turnaround plans continue to make good progress and that plans behind the scenes to raise funds continues as planned ....
It seemed obvious they were planning to make a fund raise to correspond with the STRCF repayment situation , anyway... and that all seems to moving towards ADVANCED stages
They have had to develop the plans sufficiently to present those plans to the potential investors who seem willing and waiting on the sidelines
A fund raise dilution will merely affect the % of the company any shareholder owns , but a small retail investor is only ever going to own a tiny % anyway , and if anyone has bought at 4-7p for example much of the affects of any fund raise have already been discounted
Tom Joule knows that if the company went into Administration then he would have to compete with others ,...vultures who might out bid him ..... so he knows he might as well put the funds in now and maintain some ownership , and some value in his current shares
Buying into a company like this during these times should be a mid-term bet ....there is always volatility during the process and uncertainty ...
Garden Trading isnt probably going to make any money over the winter and buying that has been a real weight around their financial necks ...Tom Joule must have backed the idea so he probably feels he has to do the right thing and back a financial rescue
Does someone know something is coming!. If so it’s naughty because many were scared into selling cheaply this morning
Not one for the faint hearted but strangely enough it’s bounced quickly this morning and some decent buys. I’m on the fence
in coming !!!!!!!!!!!!!!
as opposed to
incomeing of course
.
Any new investors looking to try and stop this speeding train please do not jump in , wait until there is a clear picture on their financial plan . Comments such as their sales are great but just not making any profit are very worrying as it’s not a great business plan . Interest rates have just risen again and will have a further impact on consumer spending .
KingJoules
Mate you can pick them lol
MADE: bust
DKE: suspended god knows what financial mess there in and if they will come out of suspension
JOUL: this could be the next MADE and EVE if they can't make this payment end of November
biggest ever sales lol. where do you get this from, they said they have stock piles of winter coats and wellies and it'sa very slow winter start.
Well, 4 mins to find out if zero is on the cards here.
I suspect Next and Frasers might well be in the queue to buy the brand, but I don't see this changing hands. I do think there is a significant dilution on the way for holders.
Thankfully, whilst I don't like to lose money, my holding here is tiny and speculative and I can afford to wait and see.
Not like the REVB and MADE situation where it was necessary to bail before what turned out to be catastrophes on both fronts.
The trading underperformance mentioned above has resulted in the Company's working capital position being below expectations. Net debt at the end of October was £25.7m with headroom of £11.4m. However, this headroom is reduced by £5.6m of 'trapped cash' (i.e. cash held in transit by payment providers etc) and would also be reduced by repayment of the £5m short-term RCF ("STRCF"), due for repayment on 30 November 2022. The Company is currently in discussions with Tom Joule and its lender in regard to a bridge financing proposal in order to enable continued progress to be made with the re-financing plans referred to above.
**However, there can be no certainty that any bridge financing proposal will be agreed, nor as to its terms, in which case the Company expects it would be unable to repay the STRCF on its due date forrepayment.**
**The last few lines I've highlighted are key here and they tried to bury them at end and make it sound like its not so serious... when clearly by the end of November the situation could be extremely serious.
I think Tom Joule has worked out that he is better off buying the company out of administration and following a cva. Real chance this will fall close to zero imv.
The last para of today's RNS essentially says that wef the end of this month the company will be insolvent. That is a position of weakness and any(or no) solution to the problem will be catastrophic for shareholders. If Joul is to survive it will almost certainly be with different ownership.
Ouch.... this looks like another horror story.
Big raise coming and a profit warning
It's obvious for companies in trouble the economic situation in the UK isn't going to improve until next 2025 onwards.
A company already in trouble is really going to fond it hard to survive.
Back to 7p I imagine
Sales remain strong despite the current environment and Tom Joule will inject the required money, cost will massively down where landlords are more than ever willing to negotiate so overall better than expected update the sp is still too cheap for the brand which in its own worth twice the market cap