Member Info for southcoastbather

If anyone's in any doubt of the trouble boohoo group is in then go and read debenhams accounts from 2018 before they went bang - it's a pretty sobering read.

Group revenue 2.9 billion

Free cash flow 117.9 million

Net debt 320 million

Those numbers sound positively great compared to ours!!

There was a trading update last January, that's a fact.

That timeline for a strategic update along with a capital markets day is not true.

I'll be amazed if they even go through with the capital markets day if I'm honest - its going to be suicide unless there has been a miracle in trading.

With regards to the strategic review I would say time id of the essence when you consider current cash will likely be in the danger zone by the end of q1 this year.

You have gone off context there, my post was nothing to do with Mike.

More so that shareholders have given the board a clear mandate (according to the board) after 2 months of management shmoosing shareholders and dangling carrots of better communication, and strategic reviews, return shareholder value blah blah blah....

What do the board then do?

Give no trading update and then put in a few piddly director buys prolonging any date that there could be a trading update. Also go into complete radio silence regarding any strategy.

Oh and dilute us 10 percent to pay off a debt that had been taken on only a few months earlier, a debt we were assured wasn't short sited for repayment.

The self obsession and self enrichment continues at the top...

I don't genuinely know how anyone has a good thing to say about the management team here.

Everything to do with this board and its nomad advisor is just a cesspit of self service.

I can understand if you think there's a chance the company will give you a return and are positive about that.

Over 2 years of people on here moaning about terrible comms, then when their neck is on the line they are ringing and posting crap to everyone, promising better comms with a full strategic review and credible plan with a possible break up of the company to return value to shareholders....

Then what happens????

All you that voted for them have been done over.... And you should be angry!!

Here's a question -

Boohoo keep blaming the sector for poor performances for all the failing brands and labels which are in terminal decline.

Why is debenhams not suffering the same sector problem?

Bit of a contradiction to say the least..

Ben I think your sentiment just about sums this up!!

We've a board so inept that shareholders see the only way out as a buy out offer.

You have to be pretty naive to not realise frasers has put the bottom on this for 2 years.

Without frasers this would be under 20p

Unless you are silly enough to think the kamanis and kane would have put over 120 million of their ill gotten gains back in???

How much has the new cfo put in? Talks a good game but has nothing on the line

Brilliant 😂

The credible plan has to be to have the staff for a 1 billion revenue business and also the distribution centers to match.

Literally the staff cost are killing the business.

And they thanked the ceo for all his hard work!!

If anyone can be bothered, go and watch the last few years webcast for full year results.... It's truly hilarious how detached they are from reality.

I watched them the other night to refresh my memory.

You seriously to wonder if they are all just waiting around like vultures for the end game....

Kamanis.... Mike and shein go head to head bidding on the failure....

You don't think it was mike breathing down their neck that forced the business update?

Also the "credible plan"?

Where would the sp be if Mike wasn't buying nearly a third of the company? Nobody else was fighting to buy shares that's for sure.

The pure arrogance of the board thinking they could put a bonus scheme together and not even rns the details was an absolute disgrace - that alone was worth having Mike as a shareholder to put them in their place.

It amazes me that everyone always assumes Mike is the problem.

The company has been plagued with issues and scandals for years and its down to one group of people, and that doesn't include Mike Ashley.

The company has mugged everyone off yet again to get your votes then bam.... Silence.

At the agm last year I was told they would be embarrassed if the sp hadn't movea higher by next years agm.... Not looking great is it?!

There's a whole host of things they should be embarrassed about... But they're not.

Don't be surprised in the near future if we hear that the board have blocked frasers recommendations for a board member.

I still remember when this was tanking a while back and Carol was busy buying shares in other companies....

Meanwhile the baord were busy trying to take over the revb board.... They have destroyed value there also... (I have shares there)

Management were off on trips to Turkey (the staff went to journalists at the time)

Umar was off gallivanting in Dubai..

Mahmud was posting photos on boats and also weird cryptic messages on Instagram that was suggesting everything was going good...

Now we have Dan making videos talking about pre returns gmv...

The sooner I can have nothing to do with boohoo and the Kamani name the better...

Absolute shambles.

100p and I'll be off (if the company makes it)

How is is or talk bf?

They have said it to one or 2 people via email!

They won't even release an official rns ffs.

This with them knowing management pay is a big issue for shareholders right now, after the embarrassing bonus fisaco last year.

Bf all they said was they don't recognise the figure, nothing more nothing less - why not address the figure?

I hope so Hexam but I don't see what brand they can really get a good amount of cash for - they're all currently knackered making losses.

How are they going to make this a success?

They cancelled last year due to the business not being in the "right place" with revenues of 1.4 billion and sales revenue falling at 15 - 17 percent

This year we will be likely going into it with 1.2 billion of sales revenue and sales decline of 15 percent (if h1 trend continues)

When you consider our peak revenue was nearing 2 billion with zero input from debenhams

And we are now at just 1.2 billion with debenhams adding 100 odd million of revenue

The core business has literally halved in 4 years and we have gone from profit to huge losses of 160 million with this years likely to be even bigger

How do you dress that up to professional investors?

Should they really be calling it a debenhams day!? I feel thats all they will be discussing!

Anyone else think there is a 150 - 200 million cash raise coming??

Yes Jeremy we do!

The problem is they are lost and don't know what to do.

They had a lucky start and got in the market at the right time and have made themselves 500 million in the process!

As soon as things got sticky they thought they could buy growth and it hasn't worked.

When someone says to you -

"I'm a wealthy man I don't need to be here doing this"

And

"would you be here doing this if you this wealthy"

The answer dam right I would if I had cost shareholders large amounts of their personal wealth!

They owe shareholders for putting up with this absolute junk stock.

Shareholders should be bombarding them for a trading update and what the credible plan is - you have put your faith in them and yet again they f%cked you all over with silence again.

A little post on Instagram just isn't cutting the mustard is it?!

The videos from Dan just ain't painting the true picture of the company and they know it.

And good old rothchild got 2 million quid for the privilege of signing a bit of paperwork on the rcf

It's infuriating that one board of directors can make so many cumulative mistakes and waste 500 million quid and not have to answer to anyone.

And also tell us how good they have done and take bonuses!

Does nobody else here believe all bonuses since 2021 should be paid back to the company?

As far as I was aware they were paying off the whole 90 odd million of one loan from the proceeds of the office sale and placing

So leaving roughly 125 million on the rcf

They had 130 million cash 5 months ago so that could quite easily be 70 million

When we get to 50 million cash there is a problem that needs addressing imo

Could there be another bigger placing coming?

There's just not enough clarity on the strategic review and credible plan backed with current trading to prove its working.