The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Terrible news both for investors and employees of the company. Hopefully someone will step in and take the brand over to at least salvage something from this.
Who will get the name? Fraser's or Boo?
Oh dear.
Dakad
The Garden Trading acquisition was poor judgement in terms of not realizing the economic cycle was past peaking but obviously all made worse by the Ukraine situation and its consequences..they may even have to make a goodwill write down on the book value at some point, if things don't improve
The Head Office I don't think was silly in that it saved on leasing costs and brought staff together who were working in a number of different buildings ....they have a mortgage instead of leases I guess ..but they now work more collectively and efficiently as a consequence ...IMO
It is a £10m company with £30m debt.
The £200m turnover was for the year ending May, 2021.
The results for the year ending May, 2022 are long overdue with the updates on turnover and net asset value.
If I’m honest less than 30m debt isn’t huge for a 200m company. Say it again, garden trading and new head office were a silly mistake. If they must do it they should have raised money before buying. CVA next week I’d bet on. Tom won’t let it sink I don’t think. Just need to see the reaction on the market and how much Tom pits in.
I agree , it’s a strong brand
It turns over £200 million
It has millionaire backers .
The war looks like it’s ending and inflation isn’t going to be as bad as people think .
I suspect it’ll be a good week next week
I wouldn’t be surprised if finance from Tom plus other investor was released as rns first (will have to be before nov 30th) which will see a small spike in price, and then cva news released at later date…probably followed by a drop again lol.
What do we think the sp will do if / when they announce a cva? What will suppliers get as a % of money owed?
Frank&Beans or Patientzer0 stalking trolling poster here:
Best read your background proven trolling history over at Kibo Energy on the AD* N thread where your obsessive non holding trolling wenker history is clear for all investors to see!
PMSL
#Trolling Wenkers
#Fruit Loops
#Frankandbeans
Yes, quite strange. Never understood what these “unknown” trades are. Are they private trades reported to the exchange ?
Strange trades . Something is brewing
I see this is a “strong buy” from you Lagunab, care to explain your reasoning for this? Or are you going with the old “throw money at it and hope for the best” tactic again? What goes down must go back up again surely? Surely? Lol.
“ I’m backing the people I reasearched with absolutely skin in the game to push us in to recovery! “
P
M
S
L
#KIBO
Saab
Debenhams had worse financial situation than Joule but is a good example of what can happen...true...Mothercare is another
It is a race in time for Joule to get the company reduced in size and to close some loss making stores ... and get the plan across sufficiently to creditors and potential investors
They are doing what needs to be done ...just remains a risk as to whether it is all enough and in time
Even if they get the equity raise ,it will be a difficult 12 months ahead along with the other retailers ....shrinking the business and its costs ( eg exit EU and US wholesalers for now) is essential for getting through that
Maybe Joule can look at a franchise model, like Mothercare did
1 share trades for those who believe ( been accurate) recently.
Joules seems to spike before bad news and crashes before good .
News is imminent
I honestly have no idea. Going to stop posting here before I embarrass myself.
Listen to Pokerchips, he’s probably the smartest guy in the room.
Battyman - true, and that’s the main reason I’m still partially invested.
Gilbosconi - millionaires do become millionaires by blowing millions (though not usually their own!). Mike Ashley blew £150m on DEB before it went bust.
KingJoules - I’m glad you’re resolute but not everyone has access to the inside knowledge you hint at.
LagunaB - good luck with your investment. I would bear in mind that dealer Richard Teatum bought £1m shares before actually meeting Tom Joules, no guarantees that they’ll see eye-to-eye or he’s in it for the long haul, but it does inspire confidence.
Saab93se — the big difference in Debenhams facts was that it had gone into Administration in 2019 (where an administrator took control of the company) before it had to be taken to CVA, whereas with Joules, the talk is solely of a CVA, no Administration (where directors keep control of company, and the insolvency practitioner solely manages the creditor payment plan process). Would JBrown join a company afresh and Tom Joule take up an operating role, to hand it over to Administration ? Well, that’s what investors need to place their bets on …
Joules is NOT going bust , there will be a bailout to keep it going .
Millionaires don’t become millionaires by blowing millions .
A very good post Saab with good balance so appreciated.
As before Joules is not rocket science just needs nurturing through the current climate, market exposure & sheet zone that is retail UK
I’m backing the people I reasearched with absolutely skin in the game to push us in to recovery!
ATB
Not meaning to stoke up fear but can the possibility of Joules using a CVA be compared to Debenhams?
In the run up to a CVA:
(from Sharecast news, February 12th 2019) “Shares in Debenhams surged 40% to 4.4p in the first half-hour of trading on Tuesday, having fallen around 95% over the past three years. Analyst John Stevenson at Peel Hunt said: "While this takes away the immediate pressure and provides a short respite, we believe Debenhams is likely to move forward with a CVA in order to reduce its lease commitments and store numbers, with longer-term financing also likely to be contingent on some form of equity raise."He added these prospect "may well secure the future of Debenhams...”
Shortly before the CVA were words of reassurance in an RNS: “Debenhams continues to make progress with its refinancing and restructuring discussions with existing lenders, Noteholders, and other stakeholders…”
and a Trading update on March 5th 2019 in which Sergio Bucher, Chief Executive of Debenhams, said: “We are making good progress with our stakeholder discussions to put the business on a firm footing for the future. We still expect that this process will lead to around 50 stores closing in the medium term.
"Our priority is to secure the best outcome for the business and all our stakeholders, whilst minimising the number of store closures and job losses. To do this, as we have said before, we will need the support of both landlords and local authorities to address our rents, rates and lease commitments. I would like to thank our staff - and all our stakeholders - for their continued support through this period, as we work to deliver a sustainable future for the company."”
THEN
Debenhams dropped it’s final piece of regulatory news on 9th April 2019: “Further to its announcement at 7.00 am this morning, Debenhams plc has requested that its shares be suspended with immediate effect, pending a further update.” (Share price at 2.04p and we know the rest!)
I don’t think shareholders will be wiped out in this case but I’m reevaluating the situation and have reduced my own holding to what I can afford to lose. With Joules talking about using a CVA, I believe the risk of worse case scenario for shareholders cannot be ignored.
Hope so as I whacked some serious cash (for me) in this week, following the money of a respected Doncaster based business (Stoneacre car dealership) who is in for way more than a million quid now…my take is he & others will & can afford to prop up liquidity into recovery, doubt he would rather loose his million quid investment the guy is savvy not stupid with a proven record or history!
I’m in for circa £163K here so do have belief…
Best to investors!
neil777,
Next haven't bought Made as such , they have only bought the brand, domain names and intellectual property of Made.com ..no inventory, stores,offices, warehouses or employees
" They have stated they may not be able to pay the loan back on 30th so the seeds are there being spread for admin whether one likes the idea or not.2
yes...that may be true ...but they have also countered that by saying they are at " advanced discussions with a number of strategic investors, including Tom Joule, to provide a cornerstone investment in an equity raise." amongst other more positive things
so..it is a case of deciding whether the race to get all the potential investors onside with the plan , which appears ready for discussion ...will succeed ...or not ....
Thanks so much for taking the time Batty….that’s the info I was looking for. No way Tom is letting this tank, and more news is imminent……..I just needed to know about cva effects to be fully confident in putting my money where my mouth is lol