Member Info for TheNorthern

If Mike's intentions were board/company disruption last year then its going exactly to plan for him, debs for nout and the rest goes in the bin. If he's somehow been allowed into the tent then I guess there's a future here. I fear he has not been however, although I wonder where the noise has gone from him. Or maybe he's seen more than us and actually feels like letting it ride out, he's well placed to launch a take over if it survives and well placed to hoover up if it doesn't.

6,190 employees in Feb 2023, 5,079 as of Feb 2024.

This is what baffles me Reardon. Small wins across many areas but cracks appearing.

Ahhh the daily "still no results" posts. The RNS will be in the next 4 weeks so. Maybe we just wait and see as any normal person would.

Abuse not intended to cause offence, although you simply cannot hold this stock at any price because you would not be speaking how you do and throwing the terms you do about. TGP wouldn't be about to refinance anything if there was a hint of default. You make valid non-emotional points from time to time. We are not in the default stage yet. You're right I'm unsure how a pre-pack/private situation would work in this scenario but MA wouldn't be happy would he? Let's see results and get on with it.

If the administrators were on board they wouldn't be spending on marketing at 5-6-7 events in the past week you ghoul.

Digital should be there forte with the board they have to be fair!

This is the same story, but this is daily now. We need full transparent and clear statement ASAP. As I said yesterday I imagine the accounts payable team and buyers were getting frank emails saying no further goods until paid up and maybe even a few cash before delivery suppliers all of a sudden.

Think we all need a defensive RNS, lets be honest.

It adds legitimacy as a "worried supplier" but in reality, "5 figure sum" or "6 figure sum" would've done? If they are late paying everybody it's likely those sentences would cover hundreds at a time! Things are about to get bumpy, just hope Finley takes none of it.

SCB, genuine question here, don't you have a direct line in?

OK so, 3 publications in 5 days so far.

1) TGP refinancing

2) Analyst worried about "quiet" Boohoo

3) (At least) 2 suppliers not being paid on time.

1) TGP - likely one of many they are speaking to, hopefully speaking to Ashley too! But we know his stipulations are unmanageable and dare I say it less palatable to Kamani than losing the business. I hope not, but all options will come with expensive rates/red lines. Debs says "ordinary course of business", which for a company with a debt facility, you'd hope so! But they are right to shop around - highly possible they need to publish to generate confidence they can service it OR are proving they can service it at agreeable rates and want the successful refinancing as a foot note on results day.

2) Analyst says things have been quiet this year on reporting, which we have all seen, but repeated its "hold" rating. OK! The reporting is not late, they have until the end of August, but I feel they want to get it right although the next point probably means at this stage, vomit whatever it is out and cope with the fall out as best you can because...

3) Supplier going public - now this made me worry initially but for reasons below, I think somebody is putting pressure on (MA/shorts):

- “It’s been like this for years on and off.” - so when rich and when poor? Cyclical? Transition making AP function (see refunds) hard/slow? You've continued to let them rack it up and pay it late for years?

- "He said that while relationships with buyers themselves were “great”" - well the buyers jobs are about to get a lot harder, credit facilities withdrawn across nervous suppliers and invoice assurances requested where possible, not to mention the now reduced chance the business can meet its obligations without room to bring new stock in? Doesn't scream to me like somebody with years of experience (and profit!) dealing with this group?

- "tens of thousands that are currently six weeks overdue." - 6 weeks overdue? I'm sorry, whilst I'm sure concerning for this supplier, many would've barely issued a 7 day threat of legal action at this stage. Panning a customers ability to trade into the future makes that 6 weeks overdue - forever overdue.

Mike is either making his move by applying external industry pressure, processes are being strangled by reduction in workforce/change in operations or keeping cash in bank (see refund mess), or thirdly, the company is knackered and will not be trading by Xmas.

Lastly I really do hope the likes of Finley, Tim Morris, Alistair McGeorge, Ellis etc can get through the next month and once results are published continue to use Debenham's "green shoots" as leverage to streamline and get the business back - as Burberry etc have been highlighted in here - on a firm footing.

Not time to stay silent, not time to be rolled over by the vultures flapping their wings, time to grasp the nettle.

Https://www.theindustry.fashion/debenhams-group-partners-with-pinterest-to-boost-brand-awareness-and-growth/

Let's just boil it down.... BFD bought at 400 allegedly, that would suggest and taking into his outlook on his posts, he would absolutely buy at drastically less, even to average down. That to me is logical.

What is illogical, is SCB's assertions Mahmud wants "total destruction" of his own family legacy in what was a hugely successful business, and one him and his pals bought millions of shares in at 31p. What is illogical, if SCB still being here, 8am - 9pm shifts yelling a new - but still negative - daily, asking for shareholders to "wake up". Wake up to what? We are waiting to see if the changes made have halted the slide. We have nothing to wake up about.

Logic went missing a very long time ago SCB, I'm actually concerned for you, emotional investors make rash decisions!

Nothing about this post screams a business close to the edge. Active amongst sports, arts and culture and positioned perfectly with segments that scream "youth" which hopefully pays off. I have concerns of course I do but I don't think we are there yet and I see many working hard to turn this around.

7.43am! I beg you, take a break.

Very harsh on Dan who obviously wants a career beyond this and who's reputation will be damaged if the outcome is not positive. Kamani's may like the high life but Dan doesn't strike me as the type. Regulatory/good governance is close period when restructuring debt and that is all this may be. Let's hope TPG have seen enough to validate the refinancing and let's be honest they wouldn't be lending and expecting a "high yield return" if they didn't think the company could service that. Lot's to be done but patience is still key. If MA wants Debenhams he best act but past behaviour tells me he will not.

I thought this and then I looked at his previous actions. MA prefers to wait until they are into administration and pick off the good bits, (Debs for him here) and scuttles the rest! That is when I came to the conclusion he is actively agitating and stood in the background like the grim reaper. He is NOT acting to save shareholders.

All of these articles are shedding light on the credible plan. It shows us that things are changing and work is ongoing, and that this is simply not a business drawing its last breath. I assume Mike's silence tells us he's capable of being patient but no carry on posting 35 times a day as if anything changes that fast in any business ever.

Pencil a bit of quiet time in for 4ish weeks then chaps! Hurrah!

The difference is ggg21 has patience. Understanding screaming into the void and actively taking delight in a failure. I wonder if the reason its risen today takes a month to come out?