Member Info for zccax77

Doubt many employees will be sacked. Intu have 2559 employees on an average salary of £38k, if KPMG sacked them they would take £38k of fees in the first two weeks based on their £500p/h charge out rate.

KPMG will be charging £500 p/h. Administrators are not cheap, they will suck the life out of the assets which is exactly why the bonds are trading at such a massive haircut.

Retail assets are falling at a rate of 20% pa, bondholders can seize today and realise X, or wait 1 year and realise X-20%. Intu is not going to flourish, these changes are not transitory they are structural tectonic shifts in the entire market. Intu were snookered even before COVID-19 happened.

Bond holders should take this over, cannot trust the management of INTU to steady the ship. Last year when yields were headed towards 7-8% the board were spending CAPEX at a NPV of 6% on Broadmarsh when they should have been selling assets. Plus ridiculous exec bonuses:
https://www.retailgazette.co.uk/blog/2020/02/intu-plans-boost-new-ceo-bonus-250-despite-falling-share-price/

This thing will move by +/-50% in the next few days weeks. Lots of volatility.

There is nothing to believe in this being an independent entity and value creation for shareholders unless you are willing to wait until 2024 and think the BOD can deliver (which thus far has been a tall task). Though if someone like VMUK buys this they will be quids in.

This is a great business. Target demographic 35-55 year olds. Nimble structure. Now almost debt free.

Who is this "Metro Bank Fan" on twitter, is that you Cudders?

The defaults are 100% underwritten by HMG. Not sure why posters here think this has any bearing on MTRO and their P&L, all they gain is the 2.5% pa service fee. Plus there is a zero impact on capital / RWA.

Hill only put in £60m in this, peanuts for him.

Hill and his wife should be sued and am not sure why the current management think highly of them. Have a look at some of the photos of the before and after images of the branches, they literally demolition the old building and rebuild, slot of the materials and substrates are imported from the United States

Theo their branch expansion under hill has been a complete scam to transfer architecture fees to his wife. I am still baffled how they can spend £5-10m on a branch. Hopefully under the new management the new branches are cheaper to open.

Still nothing per Twitter. I am glad I am not a business customer of theirs.

The only reason Odey is here is because of their rapid growth of their loan book, I bet he cannot believe how incompetent the board have been over the last year or so. Must be his best short ever.

I had a mate in the states who brought $10k of TSLA at $10/share, they fell to $9 and he sold out. I keep on telling him he could be a millionaire by now.

Theo I disagree, look at his AUM over the last few years. His portfolio only does well when there is blood in the streets.

Odey is still looking for a 300m hole.

https://techcrunch.com/2020/06/03/monzo-lay-offs/

Has gone overdrive on Twitter I see.

I don't think anyone wants to take this over. Better to start from scratch than to buy this.