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#3821 Lionelza1

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Posted 05 October 2018 - 02:35 PM

It's going :D
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#3822 Lionelza1

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Posted 05 October 2018 - 02:34 PM

How ur gondas feeling leo
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#3823 leo

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Posted 05 October 2018 - 02:32 PM

Mattress Firm financial restructuring

The Company announces that its subsidiary Mattress Firm, Inc., along with its U.S. subsidiaries
(together, "Mattress Firm"), is filing voluntary Chapter 11 cases in the United States Bankruptcy
Court for the District of Delaware (the "Mattress Firm Filing"). The Mattress Firm Filing implements
a pre-packaged plan of reorganisation that, among other things, provides Mattress Firm
access to new financing to support its business and establishes an efficient and orderly process
for closing certain underperforming store locations in the United States.

In conjunction with its pre-packaged plan, Mattress Firm received a commitment for
approximately US$250 million in debtor-in-possession financing with a three-month term to
support its ongoing operations during the Chapter 11 proceedings, the pre-packaged
restructuring process being expected to complete within the next 45 to 60 days. Mattress Firm
also secured a commitment for a four-year term loan of $400 million and an ABL facility of $125
million as exit financing in connection with which the exit lenders will receive 49.9% of the equity
in Stripes US Holding, Inc. ("SUSHI") or Mattress Firm Holdco, Inc. at no cost, with the Group
initially retaining a 50.1% equity interest. In relation to their equity stake, the exit lenders have
customary shareholder rights in relation to governance and sale of their interest with the ability
to bring-along a pro-rata portion of the Group's retained equity interest. There will further be
an unfunded $150 million payment in kind loan which will become repayable by SUSHI upon a
five-year maturity. A management incentive plan in respect of Mattress Firm will be put in
place subject to appropriate vesting conditions.

The Mattress Firm Filing does not directly impact the other operating businesses of the Group
and is not expected to have any material effect on the trading of these operations.


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#3824 DayTraderDad

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Posted 05 October 2018 - 02:32 PM

The Company announces that its subsidiary Mattress Firm, Inc., along with its U.S. subsidiaries
(together, “Mattress Firm”), is filing voluntary Chapter 11 cases in the United States Bankruptcy
Court

And now for a mother short squeze!!! Hahaha


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#3825 Tom

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Posted 05 October 2018 - 02:28 PM

The Company announces that its subsidiary Mattress Firm, Inc., along with its U.S. subsidiaries
(together, “Mattress Firm”), is filing voluntary Chapter 11 cases in the United States Bankruptcy
Court


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#3826 DayTraderDad

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Posted 05 October 2018 - 02:28 PM

Yes I am having another beer dreaming of R2.50

http://www.dgap.de/d...?newsID=1099681


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#3827 DayTraderDad

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Posted 05 October 2018 - 02:27 PM

Hey....is anybody paying attention here

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Yes I am having another beer dreaming of R2.50


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#3828 Tom

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Posted 05 October 2018 - 02:27 PM

Hey....is anybody paying attention here

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Yep.


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#3829 leo

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Posted 05 October 2018 - 02:26 PM

Hey....is anybody paying attention here

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#3830 leo

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Posted 05 October 2018 - 02:12 PM

There's movement....

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#3831 leo

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Posted 05 October 2018 - 10:41 AM

Haha time to have the new SAB beer and dream of R2.40


I took 1 for the team at 2.36.

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#3832 DayTraderDad

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Posted 05 October 2018 - 10:37 AM

Haha leo, gonades sounds Mexican...yea it's moving up and I've noticed that's always a good sign

Haha time to have the new SAB beer and dream of R2.40


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#3833 Lionelza1

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Posted 05 October 2018 - 10:11 AM

Haha leo, gonades sounds Mexican...yea it's moving up and I've noticed that's always a good sign
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#3834 DayTraderDad

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Posted 05 October 2018 - 10:03 AM

Nice article: https://www.4investo...=127583#ref=rss


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#3835 leo

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Posted 05 October 2018 - 09:45 AM

My guess announcement will be done today after 5 pm. I cannot see disadvantages this is the only option they have even AMAZON has now started to sell mattress. The answer to MF is to get rid of all the leases which are not needed and convert MF into a type of PEPCO or Conforama with the selling of mattress. I cannot see a viable business of just selling mattress.


Now there is a strategy, and a very good one that is.

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#3836 DayTraderDad

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Posted 05 October 2018 - 09:42 AM

Reuters sources said MF will file for bankruptcy this week, but so far we are Friday, and no news? could it be today (no news today yet!), or could it be that they are still exploring other options? like negotiating loan, or renegotiating the bad leases?

What could be the disadvantages of filing for bankruptcy chapter 11 on Mattress Firm or Steinhoff?

My guess announcement will be done today after 5 pm. I cannot see disadvantages this is the only option they have even AMAZON has now started to sell mattress. The answer to MF is to get rid of all the leases which are not needed and convert MF into a type of PEPCO or Conforama with the selling of mattress. I cannot see a viable business of just selling mattress.


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#3837 Tom

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Posted 05 October 2018 - 09:33 AM

Reuters sources said MF will file for bankruptcy this week, but so far we are Friday, and no news? could it be today (no news today yet!), or could it be that they are still exploring other options? like negotiating loan, or renegotiating the bad leases?

What could be the disadvantages of filing for bankruptcy chapter 11 on Mattress Firm or Steinhoff?


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#3838 DayTraderDad

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Posted 05 October 2018 - 09:30 AM

https://www.applianc...s-new-identity/

 

With new name and finance package.

Steinhoff Asia Pacific, parent company of Freedom, Fantastic Furniture, Snooze, Plush, OMF, Best & Less, Harris Scarfe and Postie, has taken on the new name Greenlit Brands and secured a multi-year financing package.

The Greenlit Brands name and logo were developed from within the Group and selected following a group-wide voting process.

Greenlit Brands Group CEO, Michael Ford said, “The Greenlit Brands identity is contemporary and vibrant. It encapsulates the fact that we are a broad group covering a variety of segments across both household goods and general merchandise, both in retail and non-retail operations.

The best part of the article for me:

Greenlit Brands will continue to be a wholly-owned subsidiary of Steinhoff International. No decision has been made concerning the separation from ownership by Steinhoff International and the Group will continue to carefully and methodically consider the various options in due course.


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#3839 leo

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Posted 05 October 2018 - 09:30 AM

Ms Jet, think you'll see 236 today...might not be maintained, but should see a stab at it.

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#3840 leo

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Posted 05 October 2018 - 09:27 AM

Any expectation for short selling should MF files for bankruptcy, just for the sack of short selling and instilling fear in the market?


Already priced in now. Should go up when announced, marginally.

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