Https://www.telegraph.co.uk/business/2020/11/08/mike-ashley-complains-frozen-auction-rivals-brands/ |
"Tony Wright, the joint administrator from business advisory firm FRP, said both Edinburgh Woollen Mill and Ponden were trading well before the coronavirus pandemic and FRP would continue to search for buyers for the businesses so they do not disappear completely" |
Edinburgh woollen Mills back in the news. Frp Tony Wright from frp said they were looking for buyers. Should be on a commission or a good fee. |
Government and BOE pumping Billions more into the system.
That puts back any serious profits here for months or even a year.
In fact this stock could slump, if its workload dries up. |
Record equity prices...lol |
In part your correct, but the debt the government is prepared to take on,is unfortunately, unlimited.
Hence,we have average house prices, ten time income, and record equity and bond prices.
Basically you could be waiting a while.
The time to buy is when the banks fail and governments don’t have the ability to save them. |
Just deferring the paydays for beg and frp |
It’s not just the courts, government intervention is keeping the zombies alive, for ever it seems.!! |
as linked in post 428
Julie Palmer, Partner at Begbies Traynor, said:
"It is noteworthy that the number of businesses in significant distress have grown substantially in the last three months, even with court capacity significantly reduced due to the pandemic. With so many businesses limping along there could be a flood of insolvencies when the courts do get back to anywhere near normal capacity and attempt to clear the backlog of pending cases. This in itself, combined with the end of the furlough scheme and other government support measures, is likely to have a material impact on the UK business failure rate. |
So the U.K. government has done the insolvency service a good kicking, by keeping alive those 15% - 25% of companies that should be allowed to go under.
The nett effect, kick the can down the road, end result ;; DEEP DEPRESSION |
Well it looks as if I was 100% correct back in May when the shares were trading at £1.30P.
sunshine Today18 May '20 - 14:09 - 300 of 384
It appears that more than one investor got the PE wrong, at least it’s now in the open. It shows that some so called great financial research sites, are rubbish without the human touch. For the reasons posted earlier I now no longer hold shares in FRP.Today the shares stand in the odd couple of pence below the stocks all time high and up from its 72P low. I think the company over time will thrive but with just 16% growth forecast and the government about to probably mess up the long established insolvency laws the case for investment has changed.I do hope those that have invested since I created the thread have done, and continue to do well. |
My post #403 of 8th Oct still stands. I've kept cash ready (though not sold any FRP) and will wait for outcome of US election before committing more funds, anywhere, not just this company.
If Trump manages to win we can relax a bit and markets might start to recover, though the dominating near term dampener is still obviously Covid. But if Biden wins, the fallout here is going to be unpredictable to say the least. FRP will probably then be even cheaper, dragged down with the overall market panic, and I shall then be a buyer because the UK will need their services more than ever. All imo. |
that is a standard resolution that most companies will propose at their AGM as a matter of course. They also apply an allotment resolution to issue shares. This company raised 20 million of new money on its float six months ago at 80p, mainly to fund acquisitions of which a few have already been announced.
They would look a bit daft to issue equity at 80p and buy it in at a quid |
Company now able to buy back shares - motion was passed yesterday. That's a louder noise than any delay in business. They will start to fill their boots, not daft are they... |
Thought that there was issues with the courts over the period getting stuff through. Large purchase at 4.05. But this share is pretty illiquid so I have faith. |
I can only put the reason for the drop down to the AGM update noting "significant reduction in the number of formal insolvency appointments compared with the prior year as a result of the support measures made available by the UK Government". So number of insolvencies lower than pre-covid hence the drop? I think people were expecting a slurry of insolvencies already... |
I can see her fall. But not concerned. Yeah maybe jumped the gun a little. But insolvency experts in these times... that could jump tomorrow. Or I am hoping it will!! Why get out at a loss? |
yeah the bad news is the share price ;) can you see it now. |
Haha. Cheers. I can wait till she comes back round. Is there some bad news coming? I can't see it.... |
Well done
I just sold and took the loss, ill buy back in at 80. |
Added today... sensible one for the future |
One wonders where the very public arm-wrestle between Johnson and Burnham will lead..... will Rushi be instructed to bolster his bail-out budget for another round?.How is this going to play-out for BEG and FRP prospects - more patience required? - or a lost cause? Time to tune-in to Andrew Marr?? Cheers, tightfist |
Question on dividend. Is that £0.0066 from FRP? |
An interesting view from this morning's paper:."Mr Sunak cannot afford to waste money but nor can he be hawkish too soon. The economic hangover from coronavirus will be a kind of long Covid; a hard climb back to normality that the IMF has called the "long ascent".Sounds like FRP may become a lucrative game of patience? NIAI |
Register for streaming realtime charts, analysis tools, and prices.
Hot Features
Premium
