Member Info for KNIGELK

No mention of a CVA, or even a mention of store closures. Interest payable will be high but I like the mention that this agreement is in the interest "of all stakeholders" ie. Appears shareholders will not be wiped out. The new venture looks promising too. I expect a share price up day.

The article is confusing. I thought the debt was around £286 million - so were's this extra £200 million come from? I thought this was the headroom of total allowable borrowings - so unclear why the company evens needs £40 million pre refinancing? Also drop of £20 million in underlying profits suggests £13 million underlying profits going forward. This is probably the key reason for a drop in overdraft and £40 million injection. Not good - but the company is NOT loss making this current financial year...

I work for a retail company. Head office .. so not on shop floor or have access to the rental info. Btw you can't answer any questions - like the situ re other retailers. The poster earlier was right about you - a bitter ex holder and personally I am (also) getting fed up with you and your constant obsession with a CVA. Please(!!!) Give it a Rest!!!!!!

zzz.... is this a retail company or a property company? (you wouldn't guess reading some posts here)..
Is Debenhams any different in its portfolio makeup than other retailers? I mean, how many different landlords do John Lewis, HoF, M&S, Next, Arcadia or Primark have? 6-7-8 or more? I doubt Debenhams is unusual except in the fact a portion of its stores have legacy rental terms which increase year on year.
I wonder how often rental costs or landlord breakdown is mentioned on the other retail threads? (after all - rent is a substantial cost for all retailers!!!!!)

A 1.6 million buy earlier at 0.62p - so I suspect the share price will correct itself later in the day - not worth worrying about unless you want out (soon)

LOL it's not about having distaste for the guy - he has saved a few chains - well done MA. (although it has been kept quite quiet that a few HoF stores have subsequently closed .. I suspect the same with Evans Cycles .. and he gets bad press on the working environment for employees)... What Debenhams shareholders posting here have "distaste" for is any attempt to block a D4E or CVA or any other plan just so that SPD can subsequently make a bid on Debenhams post a possible administration - jobs are at stake and games should not be played - especially not for personal gain - and you wonder why some people don't like the guy? (as for joyless characters - how can you tell from an avatar!!??)

It is unusual.. a price monitoring RNS usually only happens after the market close... so perhaps more shares have been issued or a large buyer/seller in the background or a RNS logged... (Spary - perhaps we s/b on Britdaq...)

Worry about your own investments not others... LOL practice what you preach then... The reason some of us "moan" is that you never bothered to post this much when you were actually a shareholder! It's every single day now... as a non holder! It's an obsession... ok that's up to you - and we all can get too attached to holdings or ex holdings .. but Debenhams will not destroy the property sector if it goes belly up .. nor will the high street disappear.. as has been said countless times before - the ENTIRE retail sector on the high street is suffering ... the property sector s/b worried about the further of the bricks and mortar sector - period. Not just one brand on the high street (and so should you)

Answering your bear points 1) no easy way out - hence talk to the landlords and exit the loss making stores over a five year period reducing costs of exit - although CVA is probably the correct choice 2) not sure the business model is wrong - speed up move to online - increase international exposure - open/move to smaller more modern stores - if the business model was wrong then all department store chains will be going bust imho 3) should a shareholder be able to block efforts to secure the company future? What type of "shareholder" will do this? Should it even be allowed? Why should he be able to buy Debenhams if he helps in any way administration? Outrageous if it happens

..a grudge..

The answer is he lost money here - appears to either have agridge or is just trying to warn off others (how kind) He probably has mentioned CVA 200 times now

Agree - these newspapers should just stop the rumour mongering ... I expected a RNS this morning based in the article. Nothing .. they are as much in the dark as the rest of us.
Tbh I always thought it was January were most retailers went bust - I can't recall too many failures so far ... We obviously need an update - good or bad - as it's hard to discuss anything new here until we know the actual situation

I was hoping a day would pass without a post from the non holder and landlords, rents etc. Maybe Google "addiction" (as someone who knows)

Btw you don't fully read my posts just as I don't fully read yours.. let's be clear - how many companies repay their bonds over two years in advance! Name any... Remember what I said yesterday? (Because you did not answer). The company profits have fallen sharply since 2016. So why shouldn't the current cost cutting and planned store closures resolve profits a tad so that the banks will allow a refinancing and repaying the bonds on their due date? Don't bother answering. It's the weekend and I am going to now enjoy it. (Debs Newport here I come)

I just knew there would be the usual morning post from the most active poster here (who has no financial interest).
Ok 75% of creditors. Well forget about a CVA then as I can't see the bond holders agreeing to it... seems a D4E more likely for the bonds

SV, a CVA usually applies to the landlords? I don't recall Mothercare etc repaying debt/bonds at the same time. I also never said the bonds were not an issue - they are not the priority issue since repayment is over two years away!!!!!!!!!
Let's hope for answers soon so that you can switch off, rest easy and worry about your actual investments for a change..

I did not say anything about bond holders being involved in any CVA decision (don't landlords have to agree by 66% or 75% - after all they are the party most effected).. what I said was that the bonds have a maturity date of 2021 - it's quite possible the company can present plans that should resolve this particular repayment issue at this later date.. you keep finding reasons for problems here - I will try to keep finding reasons to stay invested...
smartie2 - up to you but personally I don't think anything materially has changed from last week to this week. FYI I used to be a VERY active trader - sometimes buying and selling the same share twice in the same day - not any more because I worked out that it wasn't the time invested that mattered - it was the entry and exit target that was key and if it took a year to achieve it - so be it (stop losses helped too)

SV - I have done my sums thanks. Remember the bonds are not due "soon" .. they are due in a little over TWO years time ... think about it... how bad has the situation got for Debenhams since the end of 2016? (Answer: pretty dire).. so isn't it just possible IF a CVA happens or an orderly store closure programme takes effect that by 2021 the picture will look different? Indeed take out savings of £50 million still in the works (capex costs/systems etc) and possible similar savings on reduced rents post store closures - then the banks will be more than happen for the company to issue NEW bonds to refinance... of course I am seeing the "best case" picture but I would argue some here see the "worse case" picture.
I simply don't think the company needs to find £200 million via a D4E to repay all its current debt - put in the cost savings - store closures - Denmark disposal - then that will leave perhaps £100-£200 million to "find" via share issues.. of course worse case if a D4E were all shareholders - included our beloved MA - are wiped out...

Smartie2 - that might be a minor profit .. to you... but it suggests you piled quite some cash into Debenhams (and I can't recall large trades of 800k plus too often).. it's still a high risk investment imho but explains why you have been posting like crazy over the last few weeks if you have/had ££££££ at risk here - I am invested here but consider it high risk and will not put in any more than I can afford to lose - however we are all different and have different size SIPPs etc!
SV - your suggestion would mean clearing the debt completely - I don't see the need - most retailers have debt and/or bonds - it's what is serviceable/affordable - hence why £100-200 million seems more likely and remember assets can be sold.. Also Debenhams might not wish to add 1-2 billion new shares at 2p when their plan might result in some recovery later this year (and a higher share price).. they might wish to keep this option (D4E) on hold - unless forced to..

..the share price might be dropping due to possible news leak - we are due an update. I still reckon the banks would prefer to see the debt level reduced to take account of the lower current profits - probably £100 million - this isn't being negative - just realistic. Smartie2 "taking profits" .. hang on - how can you take profits at 3.15p? When you consider the bid/offer spread as well - the share price needs to be 0.5p to 1p above your entry price to make any "decent" profit imho... well done if you have somehow made a little profit over the last week or so ...