Member Info for nezlob

about this new chairman, and how it came to be he was a candidate.
Was he just Mike Ashleys favourite?
Is there any chance he will stand up for Debenhams as opposed to Sports Direct?
The fact that Sergio Bucher has remained a CEO means there must be some on BOD that are not yet in Ashleys control, can they last?
Ashley clearly in acendancy right now, he seems almost unstoppable.
The one thing I would agree with all the naysayers on here is if SPD seek control they will do it with an absolute minimum cost and responsibilty, like administration and a false saving of the company to become this MADHOUSE of sad street.
Are the administrators going to be primed to just let him have it, you'd guess so, it will be a sham.

that the lenders would need renegotiating with long before things became due.
But why announce this the day before a not all that trading update, a day before an AGM re-elections will take place?
The market was already panicked, did they think it would be reassurance, maybe they did (and it did flicker as such yesterday) in the end it became ammunition to be used against them.
The forces that want this current Debenhams to fail and so become cheaper still, have too much going for them, a chunk of shares matched with a large compliant shareholder and a one dick on here.
It's bad stuff!

it's because the voting had nothing to do with how Debenhams was being run

not necessarily for the right reasons but who cares, me maybe, but I'll still take my money and run

Cheshire has nothing to do with a mandate to run Debenhams. It has to do with doing what a shareholder sees as his cheap route into buying the company. To suggest what Cheshire and Bucher were trying to do failed is an over simplification, and they would always fail in Ashleys book especially if they succeeded!

and no longer on the board is probably a negative. he will now likely feel disenchanted.
However he will not have to listen to Mike Ashley, so not all bad!

Actually he will be able to have his say there, but will not have a vote, even more like a soft Brexit

So he will run the company day to day.
He will be dependent on the board to support him, however he will not be able to have his say there.
Bit like soft Brexit.

With the the voting off the board of Bucher and Cheshire, the Debenahms I might have liked to survive is looking less likely. I guess we will have some fireworks soon, and even maybe they might work out for us shareholders, though equally they may not.
Bad day for things I have grown up with, but I should be getting used to that, I suppose. It's like my daughter and students see me as an irrelevant old git.
You won't catch me in DEBS if it becomes the Harrods of the back street, or on their website (if I knew how to work it!)

Will spend years hiding the fact your business is crap, and the come in charge you to tel your business is crap

KPMG, will not resolve Debenhams problems, accountants never resolve anybodies problems. Who will have created all that goodwill and assets etc. that Debenahms have had to write down this year, it will have been people like KPMG.

as creditors, it only works on rent arrears. It will have no effect on lenders

Again, really it is not a be all and end all answer. It's needed when a viable business owes so much to creditors that it has become insolvent and cannot use its cashflow to survive.
You might think this is the case with DEBS but it seems a lot more complicated than that, and is it viable without changes, that will not be brought around by a CVA

You've lost me?

MA doing such a good job at HoF any wonder they didn't heed his advice.
And would that advice have been truly to the benefit of DEBS?

Me too, I have loved M&S over the years but just am not with them right now, hope they do good, but?

stand corrected, sorry kammi

Yep, never trust the bankers they are... insert rhyme of choice

they are going to do a Christmas update tomorrow, I cannot see it. Of course they will, but it's not on their website, that I can see.

an investor in stocks to make a return on that investment, get real!