RE: Sell now and buy back in15 Dec 2020 21:44
Cheers Jono well done all round. In my eyes I can’t see there not being a placing. The cash burn is too much, and opening may actually be making it worse as people have said before. The other issue is that their profitability pre Covid was intermittent at best, so if they’re maybe sat on £20m before things get going again, they’ll have to ask for more cash. I can see this sliding still to 15 or less, realistically there will be at least one more lockdown in Jan, potentially still another after that, considering it’s a Tory govt that are pulling the shots, who knows what’s gonna happen. But the board seem decent, turnover based rent is great and getting rid of dead venues seems like years too late, so maybe down the line Covid is a blessing. FP