15225 replies to this topic

[leo]

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.

Lionel....there could be something brewing in my gonads about this morning.

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[leo]

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.

[Tom]

And there's no way market could've priced in this news on MF.... Maybe finalization yea but not MF

We don't know if the market has or hasn't priced what in or not in.

And we don't know by what percentage the market price or not price things, or what things get price in or not in.

We don't know why or when or if share prices go up or down or even stay the same, especially that there are many factors involved, let alone the bumpers and dumpers, and the short sellers.

 

So please be careful for your money, and above all for yourself.

Edited by Tom, 04 October 2018 - 08:58 PM.

[JK001]

And there's no way market could've priced in this news on MF.... Maybe finalization yea but not MF

wait for the shorters to take their share.

[Lionelza1]

And there's no way market could've priced in this news on MF.... Maybe finalization yea but not MF

[Lionelza1]

News on this MF for sure is causing market trend to turn.... Am starting to get excited again ... Then we gonna have news on finalization of Restructuring so could be a double whammy?

Time for a final pump?.... This time I'd know wtf I'm pumping for unlike last time eish

[Tom]

Bankruptcy filing needed to exit and renegotiate leases

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Probably the court will grant them exit from those bad leases, what I'm saying is that there still is some possibility (although not expected) that the court reject that.

As for renegotiating leases, I think they can already do that, that the owners of the properties or the other parties of these leases should now already be (probably) more willing to accept to negotiate the leases, especially that now Mattress Firm is already serious about filing for bankruptcy chapter 11.

Edited by Tom, 04 October 2018 - 08:41 PM.

[Lionelza1]

Hahaha

[JK001]

It's good (according me) that the lenders are still interested in supporting Steinhoff.

However the new article still say that MF will be filing for chapter 11 bankruptcy anyway, what I wonder about is that if they got this money injection (loan), then why still filing for chapter 11, which might involve some disadvantages, or even that their request to get out of the bad leases might be rejected by the court, when the other parties object on it (there's some risk here (I think, but I'm not an expert on these matters, and I cannot for sure predict what will happen)).

None of us are experts or can predict the future, we can merely do scenario planning, otherwise we would be sitting on a small island drinking tequilas and the rest is censored.

[Investment novice]

It's good (according me) that the lenders are still interested in supporting Steinhoff.
However the new article still say that MF will be filing for chapter 11 bankruptcy anyway, what I wonder about is that if they got this money injection (loan), then why still filing for chapter 11, which might involve some disadvantages, or even that their request to get out of the bad leases might be rejected by the court, when the other parties object on it (there's some risk here (I think, but I'm not an expert on these matters, and I cannot for sure predict what will happen)).

Bankruptcy filing needed to exit and renegotiate leases

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[Tom]

It's good (according me) that the lenders are still interested in supporting Steinhoff.

However the new article still say that MF will be filing for chapter 11 bankruptcy anyway, what I wonder about is that if they got this money injection (loan), then why still filing for chapter 11, which might involve some disadvantages, or even that their request to get out of the bad leases might be rejected by the court, when the other parties object on it (there's some risk here (I think, but I'm not an expert on these matters, and I cannot for sure predict what will happen)).

Edited by Tom, 04 October 2018 - 07:49 PM.

[JK001]

Are you talking from this link:

https://www.fin24.co...filing-20181004

 

Which is an hour ago.

Sounds good to me.

Read it in another article, but that was more than a may, more like an agreed to.

[Tom]

A group of Steinhoff International Holdings bondholders may inject about $300m into the retailer’s troubled US bedding unit Mattress Firm as part of a bankruptcy filing, according to people familiar with the matter.

The range offered for the loan may be as low as $250m or more than $350m, according to the people, who asked not to be identified because the negotiations are private. The move is part of Mattress Firm’s plans to file for bankruptcy, with this expected soon, one person said.

Edited by Tom, 04 October 2018 - 07:42 PM.

[Tom]

"Creditors agreed to push $300 mil for restructure (I talk under correction on the exact amount)"

Is this new news?

Do you have a link for me to read?

 

Are you talking from this link:

https://www.fin24.co...filing-20181004

 

Which is an hour ago.

Sounds good to me.

Edited by Tom, 04 October 2018 - 07:39 PM.

[Tom]

There is not going to be a sell for now, willing buyer and CEO of MF don't sit around same fire at all (geen braaivleis of bier).

Creditors agreed to push $300 mil for restructure (I talk under correction on the exact amount)

"Creditors agreed to push $300 mil for restructure (I talk under correction on the exact amount)"

Is this new news?

Do you have a link for me to read?

[JK001]

Serta Simmonds and all other vendors will be paid in full, as sources said to the media, so the merchandise (e.g. mattresses) the vendors have in MF shops are secure and will be paid in full.

Chapter 11 allows the company that filed for it to remain in business, and shops will be open, and vendors will be paid, so the main thing is mainly about which is the best option for Mattress Firm to cancel the bad leases.

It's difficult to sell at a good price a business that need restructuring, and after the restructure MF, and SNH will review their options.

There is not going to be a sell for now, willing buyer and CEO of MF don't sit around same fire at all (geen braaivleis of bier).

Creditors agreed to push $300 mil for restructure (I talk under correction on the exact amount)

[Tom]

Hi Tom, I know chapter 11 is a soft option to sort companies out so this is ideal, however I am not sure how Serta Simmonds would stand with their huge amount of mattresses MF have on their premises and are unpaid for. I may be "barking up the wrong tree" but I would imagine if they buy out MF they secure their stock...otherwise potentially a big loss for them.....Or perhaps with chapter 11 stock does not come into it, but I know if it was a proper bankruptcy this would become a huge issue.

I am really not sure what is best for MF as apparently bed in a box is huge in the states and you can buy beds half price online...Anyway anything bankruptcy 11. first prize, second prize its bought is good ...All good except re financing as it is throwing good money after bad.

Serta Simmonds and all other vendors will be paid in full, as sources said to the media, so the merchandise (e.g. mattresses) the vendors have in MF shops are secure and will be paid in full.

Chapter 11 allows the company that filed for it to remain in business, and shops will be open, and vendors will be paid, so its mainly about (as I gathered from the media) which is the best option for Mattress Firm to cancel the bad leases.

It's difficult to sell at a good price a business that need restructuring, and after the restructure MF, and SNH will review their options.

Edited by Tom, 04 October 2018 - 07:31 PM.

[leo]

Good ............ had enough of that down trend....

Even yesterday when we had that wobble to 218. Today is Hasn't gone close to that again.

Think we'll only see movement in about 10 days again. Zzzzz.....

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[Ms Jet]

Shares have definitely bottomed out IMO

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Good ............ had enough of that down trend....

[leo]

Shares have definitely bottomed out IMO

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