Re: Mike Ashley26 Jul 2011 17:06
Agreed he is building a stake into this, but todays movement could be a dead cat bounce. Although Ashely has a history of buying firms in distress and successfully turning them around I am really not sure what can be done with Black's! It would be a miracle if this business turns around especially with the threat of online competition and the high street retail sector being in such dire shape. With a Net Asset Value of 33.98m it looks cheap, but dig a little further that it has 34.58m in its Assets as Goodwill. Sorry I would disagree on this one, hard to see a recovery in it imho. One for the shorters im afraid.