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the sky news report swayed me - at the time it looked to me like an agreement would be reached. it didn't work out. I lost a bit of cash but never mind, all eggs not placed in 1 basket. you learn by experience!
I hope the majority of holders managed to get out while they still could? So much ramping going on earlier today, I hope not too many were suckered in by talk of 10p next week etc?
Woodstock concur
Always the case. Last to know and in such situations get burned. Top of leader board and gone tells you a strange story here.
BOD have took the easy spiteful option for me. They knew at 8 am they were going to admin. Saw the share drop and then spike 100+% but caught people on lunch. Ruthless and avoidable.
Shareholders count for nothing. It's been clearly stated in recent news that the Shareholders will get nothing.
Good weekend all
I don’t know how anyone could be bothered to check neils 18 month posting history, it would take all your time to read the last 18 hours ffs!
I’d suggest he tries to find a girlfriend rather than posting like a Tourette’s sufferer.
I agree. But I went for a short term gamble as I thought Morrison news. Maybe other bidders and share price performance we might just make it. Sure 4-5p then get out as after the sale the mcls brand and share value is dead. It was a trade and gamble that failed.
Read back I’ve been realistic all day.
Flybe, Thomas Cook, Debenhams, this company unfortunately joins the list of collapses.
The narrative all day and everyday of some posters bigging this stock up is tedious.
Read the news.
https://www.eg.group/retail-segments/grocery-merchandise/?partner=3041&country=2787#
EG Group’s partnership with Sainsbury’s started in 2017 bringing the Sainsbury’s On the Go format to 60 sites in the United Kingdom. The locations provide customers the chance to shop for fresh food and essentials as well as fuel.
Spar is an international group of independently owned and operated retailers and wholesalers. Founded in the Netherlands in 1932 with a single store, its headquarters remains in Netherlands in the city of Waalwijk. The partnership between EG Group and Spar started in the early 2000s in the United Kingdom, where shoppers have been provided with the essentials they need on a daily basis for over 15 years across about 350 locations. The Group also partnered with Spar in the Netherlands in early 2017.
EG Group is a market leader in delivering new customer experiences and, continuing that trend, opened the first ever Asda on the Move store in the United Kingdom in October 2020. The stores provide customers with a highly recognised and convenient offer to shop for essentials as well as food-to-go products, whilst refuelling their vehicles.
AND NOW POTENTIALLY McCOLLS !!!
'Morrisons' never had a chance, and neither did we!!
?
Dealer55, MCLS is broke. Dear me some right out tripe is written on here.
You have only got to read general press releases to know that the company is finished.
BOD should have said we know no reason for share price rise. Then it’s clear. Them 8x1m looked like a signal to buy but it was insider getting out.
The answer is simple. Morrisons are owned by a private equity company which in a round about sort of way have no interest in buying any other interest.
Why buy debt. Let it go admin and pick up cheap. Always the case. FlyBe back in the air. Etc.
im curious as to why Morrisons can't or won't or hasn't bought out the debt completely. surely they want these McColl's stores? I'd be pretty p***** off aswell if I was Morrisons. it's all a bit of a car crash. I don't understand it, it all looks a bit odd and doesn't add up. but im past caring. it's a mystery but hey ho.
Neil, I think that you were genuine enough in your views throughout the day, but as you admit, a bit OTT. The thing is that most people who put their money don't want t to hear negative views, true or false. The positive posts are consoling to those who are unsure and annoying to those who have seen this scenario too many times. Me, I have been in many a failed company, mainly because I am a gambler. Who dares, wins or loses, namely loses on shares.
https://www.lse.co.uk/rns/MCLS/mccolls-retail-group-c5dg1sq4buz19v9.html
Not bought as ASDA due to increased market share!
https://www.ft.com/content/104e10d9-983f-483e-b5ae-fd91302aad27
Petrol station operator EG Group is attempting to buy convenience store chain McColl’s business out of administration, after the crisis-hit retailer rejected a rescue bid from Wm Morrison.
Blackburn-based EG, whose owners also control Asda, has been pressing for a swift deal, one person with knowledge of the matter said, as it seizes on the retailer’s collapse to expand its UK grocery store network.
McColl’s operates more than 1,200 convenience stores, including some under the Morrisons Daily brand. It said on Friday that it had appointed PwC as administrator after it rejected a proposal by Morrisons.
A sale would help save some of the 16,000 jobs that would be at risk if the company collapsed. The convenience store group has debts of about £145mn.
McColl’s said in a statement on Friday afternoon that the Morrisons offer had not been accepted by lenders, who were “not satisfied that such discussions would reach an outcome acceptable to them”.
“The board was regrettably therefore left with no choice other than to place the company in administration,” McColl’s added. It has requested that its shares be suspended with immediate effect.
Morrisons said: “We put forward a proposal that would have avoided today’s announcement that McColl’s is being put into administration, kept the vast majority of jobs and stores safe, as well as fully protecting pensioners and lenders.
“For thousands of hardworking people and pensioners, this is a very disappointing, damaging and unnecessary outcome.”
Any deal with EG would be agreed and financed by the petrol station group rather than Asda, and the convenience stores would be unlikely to operate under the Asda On The Move brand, the person said.
EG is still in talks about how it will approach McColl’s pension fund, whose trustee on Friday called for commitments to respect existing pension promises.
Convenience stores such as those operated by McColl’s enjoyed strong trading in the early stages of the pandemic, when consumers preferred not to travel too far from home, but have since reverted to their traditional function of small top-up shops.
McColl’s was valued at about £200mn when it floated in 2014, but has since found it hard to compete with larger players such as Tesco, J Sainsbury and Co-op. After announcing that it was on the brink of collapse on Thursday, McColl’s market value dropped as low as £3mn.
The company’s lenders, as of last summer, included Barclays, HSBC and Bank of Ireland.
The pension trustees warned that potential bidders could try to use a controversi
Take care.
Anything can happen and anything does happen.
If you knew how powerful your dreams were then more focus would be put into them.
The motive determines the result, let it go and it will come, chase it and it will run.
All the best.
Details won’t be any comfort to shareholders. Remember you can make 3 months salary in a day or lose the lot ina morning. You can’t be anti when you lose and love it when you win.
From top faller to top riser to total wipeout in four and a half hours of white knuckle, mad cap trading. Whatever the cost, trading the market can deliver a real rush.
Let's have a good dream this weekend . I think a big American hedge fund come in and take it over just like they did with Morrisons . but there again I can dream
Rare_Groove
Yes @ 13.17