Share Name Share Symbol Market Type Share ISIN Share Description
Debenhams LSE:DEB London Ordinary Share GB00B126KH97 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.65p +41.99% 2.198p 152,384,132 16:35:12
Bid Price Offer Price High Price Low Price Open Price
2.006p 2.146p 2.35p 1.701p 2.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 2,277.00 -491.50 -37.50 27.0

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Date Time Title Posts
26/3/201921:07Debenhams charts/news25,438
01/8/201800:49Debenhams (DEB) One to Watch on Wednesday -
29/11/201711:59Debenhams re-listed20
05/10/200322:29Debenhams is OK175

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Debenhams Daily Update: Debenhams is listed in the General Retailers sector of the London Stock Exchange with ticker DEB. The last closing price for Debenhams was 1.55p.
Debenhams has a 4 week average price of 1.10p and a 12 week average price of 1.10p.
The 1 year high share price is 25.42p while the 1 year low share price is currently 1.10p.
There are currently 1,227,822,150 shares in issue and the average daily traded volume is 57,046,592 shares. The market capitalisation of Debenhams is £26,987,530.86.
debsdowner: RNS = IMPASSE ! I concur with Goldpig this is casino trading at the moment high risk and only place what you can afford to lose but money can be made. With regard to the boards offer they are continuing to seek funding ad that would wipe shareholders out if done before any offer from Mike Ashley. The ball is back in Mike Ashley;s court! Questions? Was Nike Ashley's offer serious or just tactical to delay the funding? Whatever reason it seems to have failed! Due to the failure imo Ashley would now have to launch a legal action in court under unfair prejudice, however that contains risk-the bondholders and creditors take precedence over shareholders! Mike Ashley may have been better buying some of the bonds. This is now a complex matter but If I was in Mike Ashley shoes I would launch legal proceedings and issue an urgent application to prevent a funding. I reiterate the RNS this morning has changed the situation again anything could happen to the share price when open. The share price will be very volatile today! The share price cold move markedly in either direction at any time. Do not take notice of buys/sells there will be many delayed trades to confuse the market!
debsdowner: itc Yes he is a shareholder and if he wasn't he only needs 1 share to take an action. In the meanwhile the.. FT Https:// Debenhams shareholders may lose investments under refinancing plan Warning comes as Sports Direct offers to buy Danish unit for £100m "Debenhams has warned that shareholders risk losing their entire investment as creditors and Mike Ashley’s Sports Direct head for a final showdown over the future of the 200-year-old department store group. The struggling retailer, which is trying to refinance its debt and restructure its estate after a string of profit warnings, said certain restructuring options “would result in no equity value for the company’s current shareholders”. It is the first time it has publicly acknowledged the possibility. Debenhams’ share price promptly fell three-fifths to just over 1p, although subsequently recovered some of the losses to trade 30 per cent lower. The company’s market value is now just £24.5m, or about four days’ sales. Separately, the chain’s biggest shareholder, Sports Direct, on Friday proposed acquiring Magasin du Nord, the Danish department store business that Debenhams tried to sell last year, for £100m in cash “to assist with short-term liquidity requirements”. Debenhams rejected the proposal, which was the third Sports Direct had put to the retailer in recent months. Last December, it revealed it had offered to lend Debenhams £40m, while two weeks ago it advanced a rival restructuring plan that involved lending £150m interest-free and with no security, but only for a year. That offer was conditional on Mike Ashley, Sports Direct’s founder and chief executive, being installed as chief executive of Debenhams for an as-yet undetermined period. Mr Ashley has been a vocal critic of the group’s strategy and management, and on Thursday resubmitted a request for an extraordinary meeting of shareholders to dismiss all the board except finance director Rachel Osborne. He and another shareholder had already voted chairman Ian Cheshire and chief executive Sergio Bucher off the board in January. Debenhams’ warning to shareholders on Friday came in a “consent solicitation notice”, a formal request to holders of its unsecured bonds to vary the terms of the notes so it can put in place up to £200m of secured funding. This would rank above the notes in the event of insolvency. It is also looking for permission to grant collateral to support existing debts. Assent from the bondholders, whose debt is trading at less than half face value, would help clear the way for a restructuring of the company’s balance sheet. This could happen either through a debt-for-equity swap and share issue, which would be heavily dilutive for shareholders, or a “pre-pack” administration in which the company’s lenders would take control of the business and equity investors would be wiped out altogether. In a letter to Debenhams staff, seen by the FT, chief executive Sergio Bucher said that in a pre-pack, “the underlying business would be protected and continue to trade as normal.” But he added that the board was “focused on delivering Plan A, which is to get our financing in, keeping the business on a stable financial footing, and focusing on our plan for the future.” The letter also said that any cash injection could come “as early as next week”.Sports Direct, which owns 29 per cent of Debenhams, said its offer for Magasin du Nord would include an option for Debenhams to buy the unit back at the sale price, and the right to continue to market Magasin to third parties. It also said that if Debenhams considered the price inadequate, it could “provide further details of its valuation”. Debenhams considered selling Magasin last year to raise cash, but in January abandoned the process, saying it had been unable to secure a price that reflected the value of the asset. Magasin trades from seven stores in Denmark and has a more upmarket positioning than the core chain. It had revenues of £210m in the year to September 2018, and analysts had valued it at up to £200m.In a further statement on Friday, Debenhams said Magasin was a key part of the group and a “meaningful contributor” to profits. “As such, Magasin is an important part of any lending proposition and therefore any broader solution that protects value for the group.”“Further, there are obvious concerns with the proposal that Mike Ashley becomes chief executive of Debenhams given that Sports Direct owns our direct competitor House of Fraser,” it added. It also said that guidance to Sports Direct on what it might consider workable solutions “has been repeatedly ignored”.
goldpiguk: Hi 1corrado, You have taken a brave gamble. Anything could happen over the weekend, but the rent payments have finally brought this to a head as widely predicted in January. If no announcement by Monday the share price could easily tick up and you could make a large profit on short term price movement. From my research I know I would not touch this share as even management recognise this is a company fighting for survival. The future of the High Street is now all about survival of the fittest. Mike Ashley seems to be buying everything he can get his hands on knowing if he is all that's left he will clean up. Debenhams though clearly don't want anything to do with Ashley and going for a debt for equity swap should enable them to nullify his influence on the company as well as see the company through a potentially very difficult period. Anyone buying shares here now should see this as a pure gamble. Your chances of a big win are negligible; a win on the national lottery is more likely if you buy £20,000 of lottery tickets. Many of us have been trying to warn of what would happen. Debenhams is likely to survive but ownership of the company will soon pass to debt holders. I learnt this myself through my "investment" in Marconi. The good news is my loss in MONI made me a much better investor. Goldpig
debsdowner: FT breaking news: Sports Direct lays out plans to acquire Debtenhams if it falls into administration. Https:// Sports Direct has admitted for the first time that it would seek to acquire Debenhams if the department store chain fell into administration, although it still hoped to avoid that outcome. Chris Wootton, who has been lined up to replace Mike Ashley as chief executive of Sports Direct should the founder step aside to run Debenhams, told the Financial Times that while administration was “not the outcome we want”, it was a distinct possibility. Sports Direct is the biggest shareholder in the department store group, with a 29 per cent stake. It has informed Debenhams in writing that it considers itself the most logical and best-placed acquirer if it did enter administration. Debenhams’ management is trying to refinance its borrowings and push ahead with a company voluntary arrangement to close 50-60 stores after a string of profit warnings. However, holders of its £200m unsecured bonds are also thought to be considering a “pre-pack” administration that would hand control to lenders without requiring shareholders’ assent. Sports Direct has already written down £85m of its investment as Debenhams’ share price has plunged. “We’ve put £150m into the equity, now it’s a penny stock,” said Mr Wootton, a former PwC manager who is currently Sports Direct’s deputy chief financial officer. “We’d rather have the share price go back to where it was. It can be pulled back from the brink if immediate action is taken.” Last week, Sports Direct put forward its own refinancing proposal, offering to lend Debenhams £150m interest-free and with no security if the department store chain agreed to appoint Mr Ashley as chief executive. Internally it has termed the plan “Operation Serpico”, after a 1973 New York police movie starring Al Pacino. However, creditors have rejected Sports Direct’s overtures, Mr Wootton acknowledged, adding that the company could “end up in the hands of American hedge funds” who would “strip the bones” after pushing it into administration. Groups advising the creditors have declined to comment on the negotiations. Mr Wootton said that in Mr Ashley’s view, only a small number of Debenhams stores needed to close. He added that Sports Direct would appoint additional non-executive directors to safeguard shareholders’ interests if it succeeded in installing Mr Ashley as chief executive. Sports Direct’s proposal would offer more certainty for suppliers and better security for the company’s defined-benefit pension funds, he claimed. A previous offer to lend Debenhams £40m was rejected last year as not being in the interests of all shareholders. Mr Wootton suggested that if Debenhams accepted Sports Direct’s latest offer of financial assistance, a previous demand to clear out all bar one of the company’s directors could be softened. “It wouldn’t necessarily be Mike’s on and you’re all off.” However, he was unable to give detail about what strategy Mr Ashley would adopt if he ran Debenhams, saying it was “very hard to say what the structure of the business should look like owing to the limited and poor information” that Sports Direct had been provided with. Sports Direct signed a non-disclosure agreement with Debenhams in early February, making it party to inside information and limiting its ability to acquire bonds or more shares. “We were told that we were going to be plan A. It couldn’t be further from the truth.” “We’ve been led down the garden path for weeks,” he said, adding that the company had been left with “no option but to go nuclear.” He repeated previous criticisms of Debenhams’ management, and suggested that more writedowns could follow the £525m of impairments announced at last year’s full-year results. In January, Sports Direct and another shareholder voted Debenhams then-chairman Ian Cheshire and chief executive Sergio Bucher off the board. Sir Ian was replaced in an interim capacity by Terry Duddy, a former Argos chief executive, whom Mr Wootton said was “no better”. In response to Mr Wootton's claims, Debenhams repeated its earlier statement that it was “seeking to execute a much-needed restructuring in the interests of all stakeholders — while its biggest shareholder tries to undermine the process at every turn”. But the loan offer made by Mr Ashley implicitly acknowledges that it is the creditors, rather than the managers of either Sports Direct or Debenhams, who are effectively in charge of the process now. “Our offer is better . . . they’d be very brave to rebuff us,” said Mr Wootton
spob: Https:// Paul Scott - Small cap report - 12 Feb Debenhams (LON:DEB) Share price: 4.25p (up 36% today, at 12:55) No. shares: 1,227.8m Market cap: £52.2m Update on refinancing discussions Key points; Extra £40m facility agreed for 12 months - giving more headroom Quite expensive at LIBOR +5% initially, rising in Q2 - so it's a bridging loan, to keep the company afloat while it tries to find a longer term, comprehensive refinancing solution (possibly a CVA, combined with fresh equity raise?) Waiver & amendment of certain covenants New partnership with Li & Fung, to source better & cheaper product My opinion - I remain of the view that DEB is not viable in its current form. It was wrecked by asset-stripping private equity a few years ago, so they're very much to blame for it being in the current parlous state. To my mind, the only question is whether DEB is able to do an orderly refinancing with a CVA to dump the excessive rent liabilities? There would need to be a debt for equity swap as part of that deal too. My broker tells me that DEB bonds are currently trading at almost a 50% discount to par - an indicator that the equity is probably worthless. Or, whether it falls into administration, and is then picked up via a pre-pack by Mike Ashley (who already has a substantial stake). He wants to slash the rents, as he did with House of Fraser, and then merge the 2 companies. This is a gigantic conflict of interest with other shareholders though. So could be legally tricky. Normally, I would see the shares in DEB as being worthless. However, the interesting element here, is whether Mike Ashley will want to preserve the market value of his existing equity? Or whether he's happy to write it off, pushing the company into administration, then cherry pick the bits he wants and jettisons all the liabilities. On balance, I continue to regard this share are uninvestable. There's a very high risk that the equity might end up wiped out. People need to remember that, once a company is in a distressed debt position, then the equity has little to no value. this is because creditors rank higher up than equity, so can pull the plug if equity holders don't agree to whatever lenders demand. DEB could survive for some more time, because it's still trading at a level where there's no immediate pressing need to shut the company down. When you strip out the depreciation charge, it should still be generating some cash. Mind you, given the run-down state of some of the stores (the ones ear-marked for closure), then I expect LFL sales to be firmly in negative territory this year & in future. Hence the clock is very much ticking. I'd also like to mention 2 very useful reader comments below (thanks for these); Comment no. 15 - "Edward John Canham" points out that today's announcement should have helped reduce bad debt risk for QUIZ (LON:QUIZ) (in which I hold a long position), whose concessions are mainly in DEB stores. I covered this issue in detail, here on 14 Jan 2019 - even doing a store visit as part of my research! Comment no. 16 - "HornBlower" crunched the numbers, and reckons that DEB might have seen a £200m+ cash outflow in recent weeks. Falling Knives As regards catching the falling knife at DEB, I am definitely not tempted - its finances are too precarious, with a high risk of insolvency. In theory, I only try to catch falling knives where a company's balance sheet is bulletproof. Recently I had a very close shave with FlyBe. I (mistakenly as it turns out) thought that its balance sheet was alright, due to the huge value of its owned aircraft more than offsetting its debt. My buying some shares at 12p, and selling them at about 16p, seemed like a good deal, but it turned out to be more luck than judgement. Then the takeover bid came through at just 1p. Scary indeed, hence why I've tightened up my criteria for considering whether or not to catch falling knives.
researchanalyst1: As most of you know, rumour-mongering, scaremongering – call it what you want – is nothing new. Stock markets have always thrived on gossip and rumour. The London Stock Exchange had its origins over 300 years ago in Jonathan’s Coffee House – the sort of venue where it’s easy to imagine chatter and speculation being rife. However, the world has moved on. Shares are now traded electronically. Lunches are much more austere events. Yet there’s still the natural human instinct to gossip and speculate about what the future holds for stocks. Thus, just as the internet has made share trading cheap and easy, it’s also opened up a treasure trove of valuable information to private investors as well as, and on occasions such as today, ‘noise’ (people who are determined to spread mischief and distort market perception…) through mediums such as the bulletin boards. So if you are viewing Deb’s board today, be sceptical and see through the shear panic that has gripped some of our comrades as the Monday morning trading nears. Also, and for those who missed it, kindly allow me to re-submit my earlier post that focussed on the company’s latest trading update and that touched on the leading business story in the Telegraph about a possible lending deal for DEB. Question; Is Debenhams, at 3.8p (£45m), profoundly undervalued? Hold on to your answer. On the 10th of January 2019 – 3 weeks ago – the stalwart of the British high street provided a trading update to the market. Here’s a taste of what was said: • The group is on track to deliver full-year profits that were in line with expectations. • The group has pretty much locked-in another £30m in cost savings to bring the total to £80m: a hiring freeze is already in place at its headquarters, ranges have been cut and savings made in logistics and warehousing. • The group’s online sales rose 6% over the six-week period and delivered a growth rate of 20% over a 2yr period. • The group’s market share in womenswear has improved materially, while its new gift ranges have boosted margins. Food sales also grew 2% over the 18-week period. • The group’s talks with its banks about re-financing its loans (that expire in 2020) continue to remain constructive and that progress is being made. • The group’s net debt was £286m, allowing moderate headroom within its credit facility of £520m. • The group’s ‘new design, stores have significantly outperformed the core chain. Separately, unnamed sources from the Guardian Newspaper confirmed last week that interim Chairman, Terry Duddy, held constructive talks on how to move forward with Mike Ashley (Sports Direct) and Micky Jagtiani, the Dubai-based retail billionaire and owner of Milestone Resources. Having already written off in excess of £100m over its investment in Debenhams, the Sports Direct board were rumoured to be keen to support a systematic, results-based recovery of the business. Sale of its Danish subsidiary, the Magasin du Nord chain of department stores, was, once again, on the cards to be re-visited. The chain is said to be worth four times Debenhams’ current market value. VERDICT: The well-documented troubles gripping the UK's High Streets have brought a wide-spread malaise over the retail sector, with most retail stocks coming under pressure. Debenhams, for its part, and as indicated in its trading update, is taking all the right steps to curtail the headwinds within its path. Thus, the likelihood of the business staging a meaningful recovery is much better than the very lowly share price is suggesting, particularly if the business can salvage the balance sheet by selling its Magasin business in Denmark. On this point, and in answer to my opening statement, I believe the retailer is wildly undervalued at 3.8p, and it’s no wonder smart money has started flowing into the company’s coffers following a technical bottoming-out of the share price at 3.34p (59.4m shares traded in 7.5hrs…) on the 14th of January. To this end, I expect the revaluation of the retailer’s shares to continue as its Recovery Plan kicks-in. However, should Ashley Armstrong’s leak of a ‘lending lifeline’ be true, or the FT’s commentary of a finalised CVA to restructure the retailer’s property leases be confirmed, then expect a sharp correction in the share price as a great deal of uncertainty is priced out. Of course, this won’t be good news for those with short positions. Thus, I suspect a stampede to close these positions will be in order. Https:// In the meantime, cast your mind back to last Thursday and Friday’s share trading activity; there was a notable increase in £200,000 plus BUY transactions at 3.75p. I call this smart money – it is ‘leakey’ and it is informed. Take cue from this and the sudden emergence of JP Morgan.
9stars: News Moody's Changes Debenhams Outlook To Negative Amid Risks For Creditors LONDON (Alliance News) - Moody's Investors Service on Wednesday changed Debenhams PLC's outlook ... Alliance News17 January, 2019 | 6:58AM LONDON (Alliance News) - Moody's Investors Service on Wednesday changed Debenhams PLC's outlook to negative from stable as it believes creditors may incur risks lending to the struggling department store chain. Moody's affirmed Debenhams Caa1 corporate family rating, Caa1-PD probability of default rating and Caa1 rating on the GBP200 million loan notes due 2021. "Today's change in outlook reflects our view that there is a risk that refinancing negotiations may not result in a timely and cost effective solution and thus the process could ultimately culminate in losses for financial creditors," David Beadle, a Moody's vice president and lead analyst for Debenhams, said. "However, notwithstanding this and the company's elevated leverage we continue to view Debenhams liquidity profile as adequate for the time being," he added. Last week, alongside its Christmas trading sale figures, Debenhams said it entered talks with lenders regarding refinancing of GBP320 million loan notes due to mature in 2020. The retailer said "constructive" talks have begun with lenders, and options include bringing new sources of funding. Meanwhile, its sales continued to decline in the 18-week period to January 5, with like-for-like sales down 5.7%. The rating agency on Wednesday added that it believes Debenhams' prospects of "access to fresh capital" to have been hindered by the significant fall its share price, down 89% in the last year. However, Moody's explained that in the event of a successful refinancing the outlook on Debenhams would be upgraded again. By Elena Cherubini
h2owater: “The hedge funds should have had a great last two months, given the way that share prices tumbled against a backdrop of bad news from the High Street, so they should be sitting on big profits on paper,” Nick Bubb, an independent retail analyst, told Yahoo Finance UK. However, he said investors betting against share price falls this week may be disappointed. Last week, department John Lewis reported strong Christmas sales and Next surprised the City with better than expected festive trading figures. Next (NXT.L) shares jumped on the news, likely hurting hedge funds such as Lone Pine Capital and Tiger Global who had shorted the company. M&S and Debenhams are forecast by city analysts to report poor Christmas trading but Bubb said this may already be priced in to their share prices. “The shorts will be disappointed that the struggling Debenhams and M&S haven’t had to come forward with early profit warnings, implying that Christmas trading was no worse than expected,” he said. “I suspect that the shorts will have to suffer some short term pain over the next week, but there is probably no reason to panic, given the impact on consumer confidence of Brexit uncertainty over the next few months.”
goldpiguk: Hi, This Debenhams board if nothing else provides a little entertainment. After reading a few posts you realise debate here is not so very different from the entrenched positions taken in Parliament over Brexit. For one lot Brexit is a total disaster, for another Brexit is blue skies ahead, if not yet, eventually. Of course neither side is likely to be 100% correct. In truth how can anyone really know what will happen? Behind the emotionally charged pronouncements some facts are twisted, other ignored or simply overlooked, and some facts are even dismissed as 'fake news' leaving many observers totally bemused. Like Brexit, Debenhams is nearing its endgame. We all know and recognise the High Street is in decline. Debenhams itself now openly talks about the need for a 'broader refinancing process'. My belief is the company will survive in some form, but that does not mean before current private shareholders are nearly wiped out. Mike Ashley's offer of a £40 million interest free loan was not made for charitable purposes but by a shrewd businessman trying to protect and build on the near 30% stake he already has in the company. Many types of refinancing involve substantial dilution for shareholders and a huge rights issue could be on the cards as a last ditch attempt to save the company. Quantas has always predicted a much higher share price and in the short term he may well be proved right after any fundraising and a large share consolidation. Debenhams acknowledges things cannot go on as they are. What will be interesting is if current management can find a formula to make their remaining shops financially viable going forwards. Mike Ashley clearly believes he can, possibly by combining Debenhams with HOF, shutting most stores, bringing in self service checkouts cutting 1,000's of jobs and moving upmarket Existing shareholders here should be of a generous disposition, have deep pockets and recognise they are participants in a high stakes poker game at Mike Ashley's table. Being the season of Goodwill I wish all posters here a very Happy Christmas and New Year. Goldpig
debsdowner: The TMF asks whether Christmas will improve Marks share price and at the same time blasts Debtenhams out of the water yet again: "at least M&S isn’t struggling as badly as Debenhams, and is far from the dire straits that led to the bust of House of Fraser." HTTPs:// Debtenhams still hammering down and it can only get worse, there is no value in the share price due to debt low margins and the billions of leases.
Debenhams share price data is direct from the London Stock Exchange
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