Member Info for nezlob

for me.
Though I blame Mike Ashley as much as anyone, he has been playing this for some time. He may still be getting what he wants, Debenhams on the cheap we will see.
SPD and HofF already on my banned list too.
John Lewis you have me and my family shopping now.

"MA is now throwing his ring onto the table",
new one on me sounds disgusting!

Well afrc we are back at 700's already, RCDO like everyone else cannot wait on this govenrment to sort things out!
You faith in Ricardo has been shown to be right as I always believed and hoped. Unfortunately I have not been able to take advantage of the recent good prices as I am short of readies, and just as was thinking I will persuade my daughter to top up her shares ... from her limited Uni budget ... to gain from the "Brexit boost" ... if there will be such a thing ... we have wizzed up. Bugger

And if a CVA is being sought as so many suggest how will the Landlords have heard nothing?

"we are one of their biggest LL and there are no discussions. likewise with other institutional landlords who have heard nothing"
Seriously?
Can't believe Debenahms will not have approached Landlords even if they have not had much success?

Can't imagine why but above may have been aimed at me?
In case you think the main point of my post was suggesting that DEBS might go into administration, this is not what I meant.
My post was pointing out that a CVA will not necessarily suit Mike Ashley.
However to get to and justify a CVA you have to be almost looking at the alternative that you will have to go into proper administration. OK you can play around with things a bit but if Debenhams are close to a CVA it stands to reason they will be close to administration.
I hope they don't do either and also hope SPD don't take them over, all will be sad events, even if some of them give me a short term gain on the few shares I have.

I think you'll find it needs 75% creditors agreement, not shareholders

If there is a CVA then SPD will have to takeover Debenhams assuming all your theories here are correct. This means they will have to pay a market rate?
If Debenhams goes into administration SPD may well be possible to take on for a nominal amount, given the usual administrators complicitness.
In this scenario the CVA will not strengthen any case in regard to landords as against a company in proper administration, and taking over will leave any other liabilities that are agreed within the CVA.
If SPD took over in immeditae aftermath of CVA this would surely be irregular as far a FCA concerned if they were ever to bother about anything irregular!
So why would MA want a CVA?

22/2 regular investment in DEB's (£75) shares acquired 2,222 spooky or what.
Mike Ashley NUFC heading for div 2 as was now championship and HoF and SPD 2nd rate shops more spook.

Is this the RNS today?
It is similar if not the same as RNS released on 14th, and shown on here and ADFVN. Is that what makes it interesting.
Or is it that cash settlement equities are involved (I don't really understand them or their implications)?
Perhaps its a cover for Mike Ashley buying some more shares in the hope DEBS return to paying divs!!?

The article says it has been agreed to extend their overdraft facility, but also says they are getting a £40 million loan?
Surely they only need one or other?
They still seem to think SPD will be taking a cheap route in which goes without saying is what Mike Ashley will be aiming for.
Does this mean this Terry Duddy who I guess Ashley was OK to be Chairman is going to let him have his way, at a cost to other shareholders?
Is it another Guardian article without substance, they seem to be in the pocket of some anti Debenhams parties.I am not exactly a leftwinger but had always thought the Guardian had some principles am not so sure now.

sain says "Just a case of sensible estate management They certainly wont be taking back space from DEBS if they fear difficulty in letting wothout severe penalties".
However if you are a Debenhams landlord and they want you to take back say 2 or 3 stores from 15 you may not want to penalise them as they will still be tenants in 12 or so.
You will not want to over do things and weaken your tenant.
Any landlords that Debenhams continue with will take this into account.

fat? I know what you mean
He seems to be fllttering about from one thing to another, as an entrepreneur you imagine the business depends very much on him, will he spread himself to thin

Mike Ashley has forgotten all about Debenhams now and is after Pattiserie Valerie as he sees it as a quicker way to get fat!

This article states Debenhams are preparing documents for a CVA, yet also states Debenhams declined to comment.
So who commented that Debenhams are preparing documents, yet another piece of junk news!

I don't think landlords need a threat of CVA published they will be all to aware of that risk already, but Debenhams of course should reinforce it.
The talk of CVA in press is all about undermining Debenhams, to the benefit of others.

What might affect of CVA be on shareholders.
Well it starts of at saying the company is insolvent so in theory the shares will be worth nothing
But it follows up by saying it will be able to continue trading successfully with the debt relief provided by the CVA.
If it is combined with new agreements on terms of leases, rates etc, even maybe bonds it will long term be good for all including shareholders.
If DEBS is not insolvent it is not possible to do, so they might do D4E or rights issue or they might just manage through.
Some of this may be pie in the sky all of it is guesswork, so it is pretty similar to most of posts on this board at least!

sj, not at all sure that shareholders have any say in CVA, it is a directors decision, and then needs to be agreed by 75% of the creditors affected.
This current speculation of a CVA is just about an FT article which was based largely on and about things that were in the public domain for several months. For it to happen Debenhams needs to be insolvent, if it is the directors need to do something about tghis they cannot keep trading as such.
The FT article cited 3 people in the know for their information, but their knowledge did not seem to extend beyond what any of us on this board know or could guess at?
The Telegraph almost immiediately after came up with a different story, at least I think so I have not been able to actually read their article.
RV why do DEBS need a new board of directors and a new ruthless CEO they seem to be managing things OK, keeping a ruthless like Mike Ashley who has ruined NUFC and Lillywhites is making HofS into the Primark of the High Street? Negotiating refinancing and rents maybe, managing sensible write downs, planning store upgrades.
They have a long way to go and perhaps will not succeed, but if Ashley gets control, they will lose my custom and he will likely as not make a hash of it.
I buy lots of stuff from Debenhams in it's current form, I will continue to do so if it remains something like it is at the moment, of course it needs to change but not into some dump like Primark, or SPD (sorry Primark)

said three people familiar with the pklans, RV, SV, UU probably.
Pretty non-descript baseless (in terms of anything actually substantive happening just now) article, hardly up to the minute, of course Debs will have been eyeing CVA for months now.
It also lists the landlords likely to be involved, info sains has already kept us all informed of.
Again press denigrate Debenhams on behalf of mates Ashley and Odey.
In my opinion thats all!
CVA still in the offing, will they won't they?

Yes I can see it, thanks.
It goes against what upside umop posted which started all this off!

Be nice if he could answer that himself tomorrow?!