Land Of Leather Share Discussion Threads

[trojan] 02/1/2009 08:03

CSM.

Again could be BS but I heard they were down as much as 60% on Boxing Day alone!!
Not going to post it as I think it is too far fetched, but heard something that was very odd re the taking of cash deposits in store and must be made up.... I hope, (from a business point of view)!! :(

Not sure this will survive at all, but like you if some miracle happened it would multi bag and very quickly, but my money will not be going any where near it!

Happy New Year everyone.

[pillion] 31/12/2008 12:57

Don't forget the comp -- it's easy to enter -- runs for 1 month



I will be shorting LAN

[vod999] 31/12/2008 12:55

it must be criminal letting this trade sorry folks but the lights should have gone of months ago..

[westcoastrich] 26/12/2008 18:00

how did their sales go? did landlords turn up with a thick chain and padlocks?

[mr m] 23/12/2008 16:37

Well they're still open!!!!

[still waiting] 23/12/2008 09:32

yep, starting to fall like dominoes.

[westcoastrich] 23/12/2008 09:29

news on whittard today

[trojan] 22/12/2008 10:31

Not sure about LAN but salaries in some furniture companies are paid out early in December, with one of them being last Friday!!

[westcoastrich] 22/12/2008 09:49

rents and salaries to be paid this week

[trojan] 19/12/2008 15:29

More sales of shares to come methinks!!

[warrenc] 19/12/2008 14:56

Just released :

RNS Number : 5068K
Land of Leather Holdings plc
19 December 2008

19th December 2008

Land of Leather Holdings plc

Holding(s) in Company

Land of Leather Holdings plc, the UK's only national retailer which specialises in leather sofas, has received the following notification of a major interest in its shares.

2. Reason for the notification: An acquisition or disposal of voting rights

3. Full name of person(s) subject to the notification obligation: Lloyds TSB Group Plc

4. Full name of shareholder(s) (if different from 3): Lloyds Bank (PEP) Nominees Ltd / State Street Nominees Ltd

5. Date of the transaction (and date on which the threshold was crossed or reached if different): 18th December 2008

6. Date on which issuer notified: 19th December 2008

7. Threshold(s) crossed or reached: Fallen below 9%

8. Notified details

A: Voting rights attached to shares

Class/type of shares: Ordinary ten pence shares

Situation previous to the triggering transaction

Number of Shares: 3,261,088

Number of Voting Rights: 3,261,088

Resulting situation after the triggering transaction

Number of shares: 2,761,088

Number of voting rights - Direct:

Number of voting rights - Indirect: 2,761,088

% of voting rights - Direct:

% of voting rights - Indirect: 7.903

B: Financial Instruments: -

Total (A+B)

Number of voting rights: 2,761,088

% of voting rights: 7.903

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: 20,111 Shares are held by Lloyds Bank (Pep) Nominees Ltd, a wholly owned subsidiary of Lloyds TSB Bank Plc, a wholly owned subsidiary of Lloyds TSB Group Plc / 2,740,977 Shares are held by State Street Nominees Ltd. Shares are under the control of Scottish Widows Investment Partnership Ltd, a wholly owned subsidiary of Scottish Widows Investment Partnership Group Ltd, a wholly owned subsidiary of Scottish Widows Group Ltd, a wholly owned subsidiary of Lloyds TSB Bank plc, a wholly owned subsidiary of Lloyds TSB Group Plc.

Proxy Voting

10. Name of the proxy holder: -

11. Number of voting rights proxy holder will cease to hold: -

12. Date on which proxy holder will cease to hold voting rights: -

13. Additional information:

14. Contact name of person(s) subject to the notification obligations: Central Disclosure Unit

15. Contact telephone number: [phone]

Enquires concerning this announcement can be directed to Adrian Goodenough, Company Secretary (Telephone [phone] / Facsimile 01474 360428 / E-mail [e-mail])

[reallyrich] 19/12/2008 14:13

Nice big lawsuit for toxic sofas to give everyone a happy christmas. Has to be the final nail in the coffin. Good luck to all shareholders.

[csmwssk1] 19/12/2008 11:35

listen, they wont be around long enough to do anything about it, if you really wanted to push it i am sure a few of them know they are insolvent, and they are using the old Irish saying, I dont believe in miracles, I rely on them.

[westcoastrich] 19/12/2008 10:28

thanks andy.

[andy] 19/12/2008 09:57

westcoastrich,

May be advisable to delete the offending piece.

I doubt anyone would take any action, but if you delete they are leSs likely to IMO.

[trojan] 19/12/2008 09:10

Graniteboyo...

Please get a life, I understand that there have been a few posters in the past that gone a "bit too far" with de-ramping a share for personal gains and those posters deserve what they get, but your actions are a step too far imo!!!!

This is a BB and peeps have all sorts of views both positive and negative and should be taken as just that, the post you refer to was no where near as bad as you make it out to be and was just a posters opinion.

I take it you are part of the PC and tree hugging brigade that has destroyed this once great nation of ours, I suggest you get out more!!

[andy] 19/12/2008 08:53

True.

I just cannot see any near term spark for the retail sector, in particular big ticket items such as leather sofas.

The effect of heavy discounting is already wearing off, or simply not working any more, if current figures are to be believed.

[westcoastrich] 19/12/2008 08:32

and just imagine what buying sofas in dollars from China will be doing to margins. im sorry to be negative i cant see much to be cheery about in 2009 at al yet, maybe a glass of port will make me feel better and once i get rid of this stinky cold

[andy] 19/12/2008 07:18

Singer Capital Markets said today that pressures in cash flow will begin to alleviate from Boxing Day onwards, once Land of Leather's post-Christmas sale has begun and "once stock begins to be converted into cash".

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That may prove to be an optimistic statement IMO.

Their whole strategy is based around long term interest free credit, and in the current employment climate I see people shying away from that sort of commitment out of fear for their jobs.

[westcoastrich] 19/12/2008 00:55

Land of Leather, the stricken furniture retailer, said that early stage discussions with a third party about a possible bid for the chain have been terminated on the grounds that the talks would have given insufficient value to shareholders.

By James Hall
Last Updated: 1:03PM GMT 09 Dec 2008

At the start of this month, Land of Leather said that it had received a number of unsolicited expressions of interest in the company. Talks were thought to have included Sun Capital, which owns rival chain ScS Upholstery, and Hilco, the turnaround specialist. Shares fell by over 30pc to 6p on the news that the talks had been terminated.

The collapse of the talks, which comes as furniture retailers such as Land of Leather have been hit by a dramatic slowdown in furniture sales, raises questions over the company's long-term future.

In the summer the chain said that like-for-like sales fell by 35pc and the company predicted that the dire economic climate would continue "well into 2009".

At the time the retailer unveiled plans to raise £15m through a new share issue to shore up its financial position in the sharply declining furniture market. The retailer, which has 109 stores, placed almost 30m shares at 50p and consolidated its existing equity on a 1 for 10 basis.

Singer Capital Markets said today that pressures in cash flow will begin to alleviate from Boxing Day onwards, once Land of Leather's post-Christmas sale has begun and "once stock begins to be converted into cash".

The broker added: "There have been rumours in the trade that Land of Leather is holding talks with landlords, as has been the case with many other high profile names, in order to negotiate quarter end rents due at the end of December."

[andy] 19/12/2008 00:43

Graniteboyo

PS. Are you aware posters on advfn have been prosecuted for unsubstantiated comments like yours!

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Do you have details of those prosecutions please?

I am aware of an apology here, and one incident involving the police around 8 years ago, but have never heard of preosecutions as a result of posts here, and would be interested to know for which companies and the comments made.

[graniteboyo] 18/12/2008 23:58

"westcoastrich - 18 Dec'08 - 15:10 - 1369 of 1369

can they continue trading while insolvent, what action can be taken?"

You have posted the above message on PDG & JJB, as for action that can be taken, well i have taken issue with your posts and have emailed all three companies with a link and pointed out your spurious, quite possibly libellous comments and they have promised to look into the matter.

I would imagine they will be consulting their legal representitives and will be contacting advfn in due course to obtain a copy of the aforementioned post/posts from their servers and for your details with a view to prosecution.

I hope they throw the book at you.

PS. Are you aware posters on advfn have been prosecuted for unsubstantiated comments like yours!

I hold no shares in any of the above.

[westcoastrich] 18/12/2008 15:10

Edit: Post edited to add the following additional information the absence of which upset a poster called granitebock - as i understand it they cant be trading whilst insolvent and should call in an administrator. The fact that they have not done it would suggest they are still solvent and able to pay debts as they fall due. The situation can change and the next rental quarter day is on the 25th December.