maacprime28 May 2013 10:53
You miss my intention in this - with a share that has caught everyone time and time again and with the performance and debt where it is it is not a case of whether it is worth bringing in receivers now. It is more a case of when and for what purpose! This cannot survive in its present form and it certainly has a value - regardless of where it is placed in the T/O rankings of accountants - is irrelevant especially if you choose to rank the company by profit or debt profile. I am simply saying that IMO the only way out is via a merger, buyout or an agreed haircut with the bank all of which IMO will lead to a de listing and PI's on here being locked into a private company or if it is an asset sale losing the lot. I still stick to my prediction that this will be a pre pack and sell off for a vastly reduced price paid to the banks.