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Is there any evidence JP Morgan are buying ?
Good question "jedclampit". Could they know some info on the refinancing deal ?
Can anyone tell me the date when Mike Ashley can launch a bid offer ( early march ??). Also when do people think the refinancing result will be announced ? (I'm thinking end of next week possibly ?)
Debenhams can have a great future if it can ride out the next 6 months. A smaller portfolio and slimmed down stores on a high street where lots of rivals have closed. It's time to show Sergio bucher the door now! Debenhams need to hand onto Magisin Du Nord too, this is a very profitable part of the business.
It would be great to see Costa buy patisserie Valerie, but they are then going to try renogotiating the rental terms... trying to do what Debenhams are trying to do to their landlords. I hope they fill the concessions rapidly.
I'm surprised others are not a bit more concerned about the impact of Patisserie Valerie closing will have on Debenhams. Seems KPMG are closing ALL concessions in Debenhams. I assume Debs will now be hit for a few million in lost rent owed, refits and trying to fill these cafes now ? Sorry... I'm long and desperately trying to see the positive side but this is very bad timing!!
Nice start to the morning, currently up 10%. I thought with patisserie Valerie news we were in for a red day!
KPMG announced closure of 70 outlets immediately, with 121 still trading. Hopefully this won't knock Debenhams too hard at a difficult time.
So Patisserie Valerie has gone into administration, bad timing for Debenhams. How would any rent owed to Debenhams be recovered ? (bearing in mind quite a few assets are in Debenhams stores currently). Quick google suggests they were in quite a few if the big city branches. Hopefully a new buyer comes in and saves P.V.
Could be MJones.... he has been missing a few weeks!!
Sorry for poor spelling!!! Rushing with predictive text!!
I am a holder at 20p and 6p... I personally see Debenhams as in a poor place but recoverable. The positives:
1. Rivals are close by stores and this must benefit Debenhams
2. House of Fraser is dun for... it is not really offering serious competition to debs
3. The refinancing talks seem to be going on stair while, which I see as positive
What could punish the business hard:
1. A run of really heavy snow... the beast from the east could finish off a few weak retailers.
2. Leases need to be dumped on some stores
3. Cut the stores is small depressed towns...
Can any one shed some light on when leases can be renegotiated ? What are the forst stores they could enter into discussions over i.e:
May 2019 = Liverpool
December 2020 = Bristol
.... etc.... thanks
Pearls: I would love Mike Ashley to make an offer of 20p a share right now.... but there is zero chance of that happening! I would be very surprised if any one made any offer for this company currently. Brexit, falling pound, low confidence etc the outlook does not look good.
Louis007 - why does the market like this then ? Please enlighten us...
The markets may "like that" but as a long investor I don't. Debenhams has to go a CVA in my view. Google their store locations in the UK... sadly there present in a fair few economically depressed areas - myrther Tydfil... Grimsby.... etc they need to dump under performing stores right now!!
pearls - I guess a few are slightly pessimistic as I think Debenhams will have a decent turn over and footfall over Christmas, however with super agressive discounting will their profit margin be too low ?
Great to see some confidence restored and some healthy buys coming through this morning. I have faith the board can abapt to the changing high street..... nice to see "mjones" missing also ??
Sweet.... up 9.33% currently
What to make of today's RNS ? Seem to be clarifying who can vote and number of shares in circulation... is something in the pipeline ?