RE: Mooky to be given stake in restructured company, what a surprise, he comes out smelling of roses28 Aug 2022 09:23
Hi Wolf, this is what I’m having difficulty with and explained umpteen times, there isn’t much equity in the business considering the debt. For example, They bought regal for 3.5 billion, regal was profit making at the time, now is loss making. Not worth a fraction of what they paid for it. The only way to sell it, is to make it profit making again. Not a single company has shown interest, as of yet. This problem has been going on for two years.
You said, “At the minute they are likely to lose the lot so it’s a question of what can they recoup.”
Mate, salvaging 500 million out of 5 billion isn’t an option. When Debenhams went bankrupt, there problem was, they didn’t jump on the internet quick enough, they had nearly a billion in debt. The creditors must of salvaged half of that at least, with selling of stock and boohoo buying their name for 55 million. Cine should be profit making again next year, cines problem is very few films being released from Hollywood and the covid lockdown.
My point, only way to recoup large amounts of that debt is to let it run as it is, with some symbolic sales, just as a little punishment. Mooky knows, the debt is his saviour lol.