Member Info for TheNorthern

Of course the CEO carries the can and Lyttle was extremely slow to react to macro events but no different to many across the sector who suffered also. The business has been forced to move at pace in several directions to reduce costs, director buys and much better comms. It was the market conditions in many ways and some inexperienced growth chasing (which in hindsight can be criticized but at the time many were praising USA expansion). Finley seems more switched on and has seen Debs move from strength to strength. Reduction in staff, tighten expenditure and reduce ego assets like Soho property and get the margins back. Quite obvious and we're already half way there.

I've made this plea before but those who simply want the share price to rocket should not be cap in hand to Ashley. It's not what he does, past behaviour always a good indicator of future and all that. What I see as optimal is MA holding the current BOD's feet to the fire and I've never seen such impeccable performance over the last 2 months with communication, good appointments and hands in pockets. Ashley on the board but not in charge is my preferred position, however unlikely.

Hopefully the leadership have realised it's better to have MA inside the tent. Shorts not as brave as they have been. Would do the SP the world of good to announce some form of ceasefire and alliance post EGM.

Two lines out of that times article for me:

"In the case of Studio Retail Group, as Boohoo has noted, after taking a 30 per cent stake and agitating for a seat on the board, Frasers ended up buying the company out of administration."

"Yet, if Ashley wants more influence, there’s a conventional route: just bid for Boohoo, an outfit presently valued at a bombed-out £390 million. It’d be far more honest than all this frocking about."

This notion it can't get any worse is mental. Mike Lennon is a literal restructuring specialist. MA doesn't need to pay to takeover at 80-90p (doubtful MK accepts that anyway) but he can pay £1 and acquire the lot as he has done in the past, he's had 28% hoovered up by pulling strings and muddying the image of Boo over 3-4 years now. He is in competition with this company. He is actively aggressive towards the current board due to Debenhams. To not take stock here and understand whilst the current BOD have macro headwinds (ASOS similarly) they are emotionally driven to return this to a good place. MA has zero reason to give a single thought to us, just removing a competitor of Frasers and incorporating the IP/infrastructure in place already to benefit himself and his Son in Law.

Plenty of examples of MA pushing distressed companies closer to the wall and this could be no different. Sowing doubt and division with zero assurances. Arguably it's better for us having them work together but the red line is MA is competition and MK beat MA to Debs. Don't be so black and blue from the current board you run into the white knight.

What have the current management managed? Well, a huge fashion brand with several successful acquisitions one that beat the angel MA and is currently saving the group in tough macro waters. As I said, to write any of the current BoD off to a man who's wealth is built on buying distressed businesses and breaking them up is new. It may satisfy a few short term investors but this has market share and brand image. It is not a dying brand.

The cogent argument is for a business this size MA would offer a respectable price. If he really thought there are synergies he'd pay for those. He doesn't. He just bullies his way and Mike Lennon is a bad omen.

Who expected dividends ever?! this is not a dividend investment and never was. You can't suggest a company this relevant in todays fashion industry is going bust and to do so is outrageous, despite annoyances with its direction.

To get from that buy in to the price you're at is good work. You will be rewarded no doubt. MA wants you to believe this is a sinking ship without value but it is not. It's a valid revenue generating bunch of brands with valid market share.

Mike wants Debs only and also resents the current BoD for beating him to it in the first place. There are merits to both options but ultimately once the fox is in the henhouse it becomes difficult to see Boo continuing without being chopped up. The stewardship and further buys today do go some way to restoring faith but obviously more needed and especially action on the SP.

On USA, most would've thought shipping quickly to that market was a good idea, but things change and the costs of that will ring through for a while yet I'd imagine.

Many people sharing many outcomes and scenarios here. One thing is clear, this option ticked many if not all of the BoD wishlist and raised funds effortlessly. Wouldn't surprise me if MA has been brought inside the tent to urinate out and reduce conflict. From our point of view, we've got director buys effectively, skin in the game focusses minds and hopefully now the noise can reduce and they can work on amplifying Debs and KM. SP not dropped to 22-23 as some suggested it would which was flapping as usual.

Communication is better, new CEO, large revenue and institutional interest. I was slightly against selling assets off as it just kicks the can down the road. Mike is also not some saviour doing this for our gain but his own, as he's always done.

Not sure a website etc is the professional concerned investor we want here. Ashley clearly does things a certain way. BoD statement is bold and probably unrealistic but also focuses MA. If he wants to give his expertise as a shareholder then he will. If he wants to scoop this up and combine it then he's as cynical as the BoD and just protecting his own interests. Neither are - when it hits the fan - looking out for us. Working together is the only way this works for us.

Iparsnip, lmao, expecting ashley to walk away any day now - one moment later - Ashley continues pushing and shoving from the front lawn. Just step back and wait for Ashley to protect his huge holding and drive for his pet project Debenhams.

Almost back to where Mike likes to add tanks on Kamani's lawn.

Welcome to the fist fight! Interesting few weeks ahead.

I mean if MA thinks its worth 29.50 (as he's been buying again today at) then I'd like to be as low as possible "if" you've got the liquid to better position yourself for the future. I was at a similar level at the start of the year and I've been doing what I can to get as low as possible for the inevitable night of the long knives.

Many sitting the budget out, but looks positive generally. Mike probably dropping the BOD an email every 1m shares bought to ask have they had enough yet.

Agree £2 is not realistic at all. What we do have already is huge revenue - unprofitable - a winding down of expensive mistakes, the BOD feet being held to the fire quite aggressively, huge brand reputation however and if Ashley gets in one of the best in the business at the helm. He is ruthless and cost cuts where required. My worry is he's only interested in Debs and cares not for Kamani/the other brands. I'd say 55-60p would be doable in 2 years with sound management and an economy turning.

Hard to say, maybe they know the long game Ashley has. People will always talk. What is clear though is Ashley is buying every day and will be going for the largest shareholder placing to strongarm as he always does.

Quite mental if we hear about this first from 212....