RE: tc lmey jv is funded on borrowed money..................again17 Aug 2019 14:06
@share..true..that's why TCG can be turned around and why Fosun have exaggerated the money they alledgde to willing to put in to cover operational need...In reality most will be for investing in new Casa hotels. TCG is not broken just damaged but repairable.
No wonder TCG balance sheet looks week it's got a Joint Venture with LMEY worth just £78m on its balance sheet but contains 12 new hotel investments, dam those hotels are cheaper than the ones on a monopoly board and hidden away out of sight to boot...
Buk buk buk..stop cherry picking and let the audience reach their own conclusions I don't see a business that's folding I see one with challenges which are not unsummountable and needs a new management team and to merge with a large rival...these things very often can and do happen and often when you least suspect it.
@buck..you made it clear that the covenants have been wavered they have not they have been rest and this agreed back in Dec 18...the content is actually rather upbeat you did notice..'Opened 12 own-brand hotels, including four Cook's Clubs and one Casa Cook' you don't do that if you are skint!
Buck appears to be busy on either google or wikipedia or some dodgy video...'have you seen the video's'. on you tube....ha ha...you guys make laugh so naive....Fosun says its putting £750m into TCG to be spent on what, exactly survival.or just camouflage for investing in more new casa class luxury hotels..theres 9 in a JV valued at just £78m..Now to add to the debacle some einstein suggest the banks will lend a further £150m and watch it turn to smoke on a 100% D4E swap....yeh right..meanwhile Fosun with revenues of $85 billion contributed zero more money apart from the mythical £750m inflated for public digestion made up unreal and never will happen, "rescue money"
I know this industry far far better than you..£750m will never be paid into TCG...only just enough cash to keep it ticking over and support restructuring maybe £50m a month that's it...Where is the £750m and what is it being spent on..do you know...you don't..you just that..that's really dumb..