Its hotel portfolio, right now shareprice is kind of stable around 11.5 and 12.If previous profit warnings are considered then shareprice would be back to 18 to 20 withing a week or two.
Which professional said it cant be turned around even citi said that things could be worth if it can be turned around.You would hear both sides , some would be negative and some would be positive.
Their airline is worth about 1 to 1.5 Billion and could be worth about 3 billions.On top of that Thomas cook is increasing Hotel portfolio so make up your mind.
Debenham was borrowing money right till the end and banks were happy to lend them money.This is a cycle lenders know that they are protected either way , if company turns itself around it would pay them off if goes bankkrupt bank would take the assets.
Were let down by corrupt management , in flybe case they rejected 50 pounds per share offer and 10 months later accepted to sell whole company for 1 pound per share.Some of their slots were worth a fortune.In debenhams case retail model was not working and only a small chunk of money was being generated through online.Butcher did try his best to increase online sale but it did not work.But MA's offer was better for shareholders which was rejected by management and MA did offer to provide much needed cash but BOD did not want to have his help.I think TC would want to close or reduce high street shops as 20% holidays are booked in High street shops and 80% are booked online.
Total debt is 1.1 billion, debt is not a problem as some analysts value their airline buisness at 3 billion but company's core buisness model is flawed as only 20% customers book their holiday via TC high store shops so having as many as 600 high street shops is pointless.They would have to close these stores down .
That MA did not want to buy in first place he tried annoy bod at every given occasion and then had a cheek to put in an offer at very very last mintue.May be he wanted debenhams to fall into administration so that he could buy it out of administration.BOD which was there to protect shareholder's intrests did the opposite.
Genuine investors who have held it from 5, all signs were there when company was getting contract after contract and multiple acquisitions and still did not know its financials.I hope they make their money back