Following last week’s restated segment earnings and some additional information on HEMA from a well informed source,
Read MoreMatalan Q2 results are right on target with model, if not slightly better. We do anticipate some disappointment in the market however, as the results are of course significantly below last y
Read MoreWe had modelled the cash squeeze at Nordex in all its detail late last year, but the company exceeded our expectations, or the Delta 4000 did. AS such, Nordex can probably make
Read MoreFollowing news that John Lewis is seeking discounts from landlords, the Sunday Telegraph reported that Mike Ashley is to shut down most of HOF’s stores after
Read MoreQualification: The previous email on advisors to the company and to the SSNs still has rumour status. No engagements have been signed yet.
Read MoreAs per conversations with most of you, we have been expecting an approach to bondholders in November. However, things have been progressing more
Read MoreTed Baker’s numbers were thought the end of August. While that is 4 weeks further than the last numbers we have from New Look, NL management said
Read MoreAlthough the fighting itself introduces yet more uncertainty when time for the company is really of the essence, the SSNs remain well in the money, particularly considering the
Read MoreFurther to our mail on the Term-Out the other day:
While a 10 year Term-Out is the worst Sauvegarde can do, we are already in a
Read MoreThere was a news item the other day that went largely unnoticed: Pepkor Europe is to be renamed Pepco Group.
If there were any doubts about how concretely
Read MoreClarified from the Company that the RCF will become senior secured if over $1bn of senior bonds are issued. There is NO LIMIT on the amount of
Read MoreHema with disappointing numbers this morning:
LfLs were positive in general. So far so good. Sales growth was primarily driven by hard goods.
The company refers to
Read MoreWe think S&P got it roughly right, even if their backward looking rating does not reflect the more important outlook. The company can stomach a $2bn fine without material trouble. Beyond that and depending on
Read MoreRallye have presented their term-out plan to the banks today. Details are below.
In our view, bondholders could do worse than term out.
Details:
Read MoreLowell just announced a change of director of its Garfunkelux Holdcos 2 and 3.
The outgoing has left Permira.
Read MoreThe bonds already moved up earlier this month, but they will likely do so again.
Takko needed such a quarter and thanks to a well received collection - they got it.
In June Takko booked an 'outrageous' +31% LfL sales. June was a
Read More