Member Info for KNIGELK

DC2007 - well your reason for the decline in profits is unique on this thread - everyone else thinks its to do with the legacy rental issue - personally I believe Debenhams is having the same problems/issues as per many other retailers - lower high street visitors - rising costs (pensions/wages/rents) - perhaps lower margins - attacks from online competitors etc. Problems many other retailers have.. Have they made mistakes? Sure - but I am not convinced the answer is to replace the BoD.
Pokerchips - you do seem more negative than recently... people hold shares long term for a number of reasons.. some many be employees or ex employees who may have the shares via share options - others may have just held hoping for recovery and not set in a stop loss - also Odey has been a long term .... shorter LOL
SV - my issue with you is that after you sold you suddenly had all the answers - "found out" about the rental issue and probably have posted here 5x more often as a non holder as when a shareholder - I simply cannot understand why you are here 24/7 - but as you know .. i have been obsessed with 1-2 previous holdings myself - its not healthy speaking from experience..
There has been over 100 posts since 4pm when I last post and i reckon 70 of them have been from non holders - quite unusual - but sorry guys - surely most of you are shorting this stock? If not - why the interest....
I still believe the company will survive in a leader state - I say this as i was there when Debenhams went though some near death experiences before ... Next.. Burtons.. Mothercare .. New Look - all had periods of hitting a wall and pulling though - perhaps the online factor makes it less certain now - but even if the shareholders do not "survive" or are diluted significantly - i reckon Debenhams will still be on the high street in 2025 .. not a cert though

Lets be clear - sain@vision is a bitter ex holder who lost money - no hearts is new here and probably a shorter - or just a miserable guy.... their agendas are clear - to give out the WORSE CASE picture. The company is exploring various options - the main reason they are talking to the banks is underlying profits have fallen again - some say £20 million .. however note the key word P R O F I T ... the company is NOT loss making .. has £1.5 billion in turnover - an asset it can sell OR perhaps float on the Denmark exchange (not discussed before) - has stores to close ..
Yes perhaps the picture may be worse than a few months ago - no body here knows and stop pretending that you do!!!!
Worse case - admin. Best case - gradual profit recovery. Mid case - a CAV and dilution and shareholders hold 10-30% of the new capital post D4E.. I am going for the mid case - the SHORTERS obviously will continue to try to scare the heck out of the rest of us - ignore them and D Y O R !!!!!!!!!!!

If you want to moan about my spelling - at least get my name right :-) I have poor eyesight and a habit of typing something different to what I am thinking - old age perhaps - but I do try to read my posts now before hitting the "post" button - must try harder. BTW nothing wrong with the term "going forward" - we cannot all be A plus in English..
I note NEW LOOK have done very well - a return to profits - didn't they have a D4E too?

I accept that the bondholders will have to agree to a CVA (thanks to SV clarifying this) ... but they don't have to accept equity until it has to be part of a refinancing package since their loans mature in 2021. For a start - are we saying that going forward Debenhams will not have any bonds or will issue any bonds - perhaps give the bondholders the option of exchanging for shares but surely you can't forced them to and maybe the company would only need (say) half of bondholders to agree to converting for the D4E to be successful? TBH it's guesswork until we get an update ...

sain@vision - perhaps ... but there are different types of "investors".. the short term day traders looking for an quick 20% .. they don't expect any issues because they are in and out of a share before you know it and probably never get caught in a sudden suspension.. then there are the more active traders who hold for perhaps a few weeks/months maybe with a share price target to sell out .. and then finally you have the long term holders - some hope might still be here from the 50p days.. they are holding out for possible long term potential although I hope they use stop losses. TBH I have been a mixture of all three.. been in CLP for ages although traded.. DEB not long at all and probably will be in and out based on targets - personally I am not sure how anyone can suggest a share price north of 10p at the moment - it would mean profits recovering and no new share issues... longer term .. perhaps.. if profits recovery over time.. I'll leave the targets to the "experts" :-)

The difference with Afren and Carillion (or CAKE etc) was that the shareholders had little or no warning of trouble ahead - same with MySquare .. at least here with Debenhams shareholders are well aware (or they should be) of the risks - of possible D4E - of a likely CVA - even the risk of administration. People buying here have their eyes wide open to the risks - it will not be a massive surprise if this goes belly up... hence why the share price is sub 4p!! However saying all this - some of us believe most/all of the risks are already factored in to the share price... there MAY be more upside than downside in the longer term - it really depends on whether shareholders will still hold (say) 25% of the revised equity IF a D4E happens imho

It's about 9% of turnover roughly so compare to other retailers I guess.

Wise after the event? Agree, don't make a prediction without a reason

You know what my point is.. most companies have annual rent increases or regular reviews (3-5 years). Perhaps at the time Debenhams signed up to these rental terms they were more the norm. The issue probably is that a 25 year period was too long and not now the norm (although my office had a 25 year rent agreement from the 1980s). Debenhams has the same issues that all high street retailers have - pensions, wages, rent, rates, electricity, heating, depreciation. The way you bang on here would make some think Debenhams is unique. It is not!

Just noticed the SUPR RNS re agreeing a 3.2% rent increase for a Tesco store near were I live. Gosh, I was starting to think only Debenhams was subjected to rent increases :-)

SV your comment on rates is valid. It also applies to all high street retailers (as I keep saying). Hence why the government should take further action to reduce business rates on bricks and mortar and put in place more online taxes (if the EU will allow it).
I love the comment earlier that the £40 million credit facility is to make the company insolvent on paper. Even if true, why on earth would the banks will do this ? "Here's £40 million so all our loans will be worthless in X months time"

Some of these hedge funds (Odey) have held short positions for months - isn't there a rumour that Odey has been working with SPD ie. borrowing their shares? My point is that at least some of these hedge funds will probably hold on until the bitter end hoping for complete wipe out - I hope they are 100% wrong and get completely burnt - they could already have banked massive profits and trying to gain an extra 10% might actually cost them 50% of their gains if they are not careful!!

RV - yet earlier didn't you say you sold most of your holding and have a few left "for free"... (you can tell when someone has added/reduced as suddenly they switch from bull... to bear... to bull.. to bear... it's so transparent)

Also read the RNS .. talks to conclude "before the end of the period".. what period? This quarter? This financial year to 31st August? By the end of the ONE YEAR credit loan deal secured today? I am not sure BUT it's clear the company now has 3-7-12 months to get a deal done... Also maybe securing this agreement means asset disposals can (re)start? It's not clear in the RNS but this aspect wouldn't surprise me - unless discussions with (all) landlords have to conclude first (pre poss CVA)

LOL since the subject of my post was "WGR" .. the post obviously was not directed at you!
SV - are you seriously trying to deramp??? Seriously/?? The share price is UP today. Both bits of news are (very) positive - a tie up - and breathing space to continue longer term discussions of refinancing and/or a CVA - remember the bonds do not HAVE TO be repaid YET... 2021 !! 2021!! 2021!! Get the message???

So why the heck do YOU continue to post here if you don't think the company has a future? You are a right attention seeker aren't you??? Just remember Debenhams profits were north of £100 million (!!) just 2-3 years ago (!!!). So what goes down can also go back UP!!!!!!!!
(personally I don't expect these profits again - but why shouldn't a slim down company with 100 stores and a great international and online presence have a future?? Even if profits were just to return to £50 million p.a. in 2-3 years time - the share price will be 15-20p then - of course a D4E will mean more shares BUT LESS DEBT)
Smartie2 - understand how you feel - the rise is more to do with the tie up with the world leading supplier chain partner imho :-)))))

Out of interest, how many stores do 1) Harvey Nichs 2) Harrods 3) HoF 4) John Lewis 5) a n other - have? If Debenhams were to downsize to 90-100 stores - that's not the end of the world (although it will be a set back for some towns and the job losses will be substantial) - that's still a decent high street presence.. plus international... plus a decent online business... I personally could accept this as the end result post any CVA or D4E...
Remember MA has taken over HoF - how are they doing? How many stores have HoF closed?
I know the focus here is on Debenhams - but compare the chain to other retailers in the sector - John Lewis is "lucky" it has the food business ... although for the first time in 59 years the partners might not get a bonus AND a store is closing... what's needed is measures to resolve or stop the high street decline and tax online !!!!!

SV - totally agree that there are issues to be resolved - the company is not out of the woods... however this agreement will at least buy the company TIME to hopefully get a decent refinancing and - if necessary - a CVA agreed. Feel sorry for Smartie2 - selling at the wrong time - I know the feeling!! Might stay off here today - the thread is busy with day traders - obviously...

SV, you were a shareholder/ramper once.. what do you expect on decent news?

..the world's leading supply chain solutions partner.. could really help with click and collect and the online business in future. A great move imho