Member Info for KNIGELK

It's quite ironic that Amazon open a large department size store (in London) and they are queuing round the block for Black Friday offers (remember Amazon introduced this American holiday). My point is that it appears people will still turn out and walk with their legs to stores but perhaps less often and more selectively. Debenhams have had small well placed adverts on Black Friday in the news papers all week - indeed I might buy something today - VAT free. Re Drumfries - I wonder if this valuation is the exceptional rather than the norm?

Virgin Altantic sorry

Virginia takeover talks for Flybe!!!

That's why they made a £117 million provision in the accounts. Maybe I am not fully aware but again it's a section of the portfolio and some leases will end in 5-10 years. It's not all good it's not all bad. Enjoy the day

We have to remember that there are only a few retailers that habit large stores now - HoF, Debs, M&S and of course supermarkets.. so perhaps it would be fairer to compare the financial ratios of selective Debenhams stores to other retailers of similar size stores - or the sector in general. I think this interesting (and note your interest in the property sector re other investments) but still expect Debenhams will survive - simply because I have seen this company in dire straits at least twice before over the last thirty years. Any investor should be well aware of the high risks and the christmas period is vital as for whether the company feels forced into a CVA or not. Remember Debenhams is not alone in having higher costs and falling sales/margins - there could be a few failures next year plus Brexit is the big unknown. When i get time i will review your research further but off to meetings now all day so unlikely to post gla

sain@vision - it is not meant to be abuse - it is called debate and asking a valid question .. like "you were an investor, you sold and have now gone ultra negative". It just stands out like a sore thumb. BTW I am NOT invested - simply because my portfolio is full up with other investments due news. So why am I here? Well I work in retail and indirectly had connections with Debenhams and know a few people there. So a little bit protective of the company. So if i get a tad upset by the constant negative attacks I dread to think what real people working in the stores will think if they read the BBs or papers - it's not nice is it? The company needs a chance to pull itself out of the mess it is in - some of it is of their own making - some of it is not. They have a decent overseas business - a growing online business - and over half of their store portfolio is doing fine. The issue is the 30-50 stores in the portfolio with no long term future - and you have highlighted a few examples. They don't intend to panic - don;t intend to dispose immediately but over 3-5 years - which may be optimistic - but there is no cert there will be a CVA - maybe.. maybe not.

It's simple to answer depending on what answer you believe a) it was to reward small shareholders for losing out with Worthington b) it was a way for the large shareholder(s) to sell down (as we know two individuals who did dispose of shares early on) and make money selling to a large small shareholder base or c) it was a mixture of both a & b - this is the option i believe. Any pending news will either be about the RAP warrants - another small investment - or a move to an exchange were it is easy to trade/raise funds. News is coming imho

Mannnan you know more than others that if a share price moves up 20% rampers will appear. If it falls back 20% the derampers will dominate. Trouble is, it's hard to work out fair value here. If Debenhams has a decent Christmas the share price is probably cheap but if trade is down from last year then we could be back to 5p. I don't think much will happen to the next update in January. Then the fireworks may begin..

Sains, you are the one looking the fool sorry. You made a massive investment and subsequent loss and suddenly you have found out about the rental issues. Didn't you research before you invested ? Posting non stop now for what reason? To justify your decision to sell or to buy in lower. Of course answer any questions but it's slated towards the negative isn't it? Jones - never heard of a Debenhams superstore. Which one please ?

Let's just hope no one is buying on the back of receiving info... probably its one of the big shareholders selling down (again) and a few are happy to take them up... time will tell if buying in excess of 20p is a good decision

Shock horror - rents are higher now than in 2003 - thanks Sherlock. OK it's quite an increase - but can you tell me how many stores Debenhams had in 2003 compared to 2016? (clue - not 150). Interesting some are posting more now as a non holder than when they were a holder!
I doubt CVA is on the cards unless the trading situation deteriorates further - post Christmas. So lets stop the CVA obsession...

He will NOT be interested - he has enough on his plate with Arcadia and sorting his own company out - maybe at a later date... you say Debenhams is cheap at £100 million - you must factor in the £300 million plus in debt plus the legacy rental issue. These are the main reasons for the current market valuation (inc falling profit) but then the shorters are helping to keep this lower than fair value imho. I believe it should be north of 10p but until we know the current trading and whether a CVA is on the table or not - don't expect a stellar recovery..

Disagree. Newport was heaving last Saturday. Great atmosphere and fairground opposite and the store looks brilliant and always seems fairly busy. Maybe mid week less so and the area nearby needs updating

sain@vision, thanks I know Newport well. That's my point though. There probably have been 30-50 stores opened since 2003 when these long term leases started to be signed hence why perhaps only a portion of the store portfolio requires rent reductions or closure. So not sure a CVA is required but remains an option. Hope you took my point about the stress of continuing to monitor ex investments. Just saying from experience. Ok if you may invest at some point. We all should have a watch list.

Did you read my posts yesterday? Rental costs were £222.9 million last year up less than 1%. Perhaps the more recent store openings - say in the last five years eg Newport are on more sensible shorter term rental terms hence the costs are not going up more than 1-2% in total. The company obviously thinks that it's 30-50 stores that are the issue re rent. Does this warrant a CVA? Personally think it would have happen by now tbh. Share price up 70% from low. I suggest perhaps this is one share you let go of and stop looking at. You made s loss move on. I'm saying this from experience. Nothing worse than continuing to monitor an ex investment because if it goes south you feel justified and if it goes north you are kicking yourself

What on earth are you talking about? 56 posts between 8am and 12.15pm then a few hours of peace - some of us work and cannot post 24/7! Also some threads go without a post for weeks on end - I know!
BTW agendas? Think about it - why do anyone here post? Four possible reasons 1) they are invested 2) they are shorting c) they held or are considering an investment and d) working in the sector/interested in the story/company. If you are invested you want the share price to go up and if you are shorting you want the share price to go down - simples - not rocket science. Whether that means we all have agendas .... well perhaps ... but some are more obvious than others and you get to know them. Decent day considering the chaos going on... lol

Mothercare re CVA? Not sure we should presume M Ashley will take this private - it's possible but he has to wait until February and it may depend on Christmas trading - if it's dire he will bid imo - if it's decent he will hold off as I suspect the share price will move upwards... very interesting few months ahead

I would have thought at least a few of the landlords own their properties out right? Are they all covered by long term financing/loans - I guess assets switch between various property companies on a regular basis hence the constant debt on most properties but some must be debt free? Sorry I know I am not the property expert here..

It's an interesting debate - I do pay the rent for our department so do see invoices with the added extras like service charges (never the same quarter on quarter lol) and licence charges - whatever this is! but never read though a detailed rental agreement - we have a five year term - common now as you say. If a CVA happens then shareholders may still get a return aka Mothercare but its not certain - of course any one investing here should know the risks - I just really feel for the employees at this time - lets hope they have a brilliant trading period pre Christmas!

Look as I stated a few posts back I know people at the company so I will get emotional when others will not - don't necessarily take it personally - and I don't wish to be a moderator - it's fair comment to ask why people are posting isn't it? All I am saying is that if you are the expert in property and are close to the action then you know you have to be extra careful what you can say and cannot say on a public BB - that's not being a moderator - that's common sense. Remember some people may be daft enough to trade on BB comment - personally I use it as just one of the tools when deciding to invest - agree though it is tough out there - for retailers and landlords alike!