RE: Can’t decide7 Dec 2024 15:41
It is a tough decision to make, because I don't believe that the Boohoo team have our best interests at heart, and nor does Ashley. But each watching the other stops either from pulling a fast one.
My problem is that if Ashley wins the vote the power swings from 100% Kamani to 100% Ashley. The added issue is that quite capable and experienced operational retailers will leave immediately - Kamani, Carol, Dan and the two Kamani brothers. With no equivalent retailer coming in to plug the gap. That gets you closer to failure - an issue for retail shareholders, not an issue for Ashley.
There is an argument that if Ashley wants control of the business he needs to pay the required premium through a takeover, and make an offer for the business.
The business is suffering primarily due to a big competitive force in the shape of Shein. I don't believe that their advantages will last for ever, so a genuine turnaround is possible. 2025 will be an interesting year.