Galiform Share Discussion Threads

[trojan] 27/11/2008 09:53

The guy should be put against a wall a bloody shot imo!!!!!
Disgraceful post!!!

Part of an MFI staement:

"In addition, the Directors have had to take the reluctant decision to close 26 stores at the request of Galiform plc. This is despite the previous agreement that the majority of landlords would support the company with a rent waiver and agreement to assignment of the leases.

Too bloody right, they owe rent!!

Methinks as well that GFRM may just have found someone to take them on, but I could be wrong!!

[sketchley] 27/11/2008 09:43

mryesyes

Struggling to decide if your posts are malicious or very very naive
Either way you are making yourself look foolish
Suggest you alter your research references

[mryesyes] 27/11/2008 02:30

OK I have it confirmed Galiform has no net assets of the size to address the size of the MFI debt and as the guarantor of its debt I assure you that while you may see on TV that only it says MFI has gone, the only reason they do not mention Galiform is that it is not a household name
Assets of Galiform can be sold by the administrators and the creditors will be paid %'ages I understand 30-40% but the ordinary Galiform share certs may be shredded

[mryesyes] 26/11/2008 22:43

Galiform is itself entering administration

[bradker] 26/11/2008 20:52

What will happen to share price now MFI has gone bust. Will galiform trade out of this or will the share price plunge.

[trojan] 26/11/2008 17:18

Bloody MFI are a disgrace imo, they have let GFRM take all the pain, had our money, used our resources and now want to go in to admin and come out again after cherry picking the best sites!!

If I was GFRM now, I would take legal action against any MFI stores we have the lease for and force them to close and to hold back any stock to pay any outstanding debt to us!!!!

Time for a brandy, back tomorrow!!!;)

[trojan] 26/11/2008 10:43

If that is due from MFI then imo we should close the bloody doors on them and retain the stores stock in lieu of payment, TODAY!!!! Grrrrrr.

[patviera] 26/11/2008 09:14

in telegraph it mentions gfrm seeking unpaid rent?

[trojan] 26/11/2008 09:08

pat..

MFI have already put part of the business into administration and they should now be able to carry on for 12 months min methinks!!

They are still sorting out the leases, but I am under the impression that MFI will take some of them back on and the rest will be sub let again, I could be wrong and it needs verifying etc!!

They have already stopped supplying MFI a while back, so no other effect on GFRM, plus they deal with trade and not retail off course, but the next 6 months will give us a better idea of what is going on.

[patviera] 26/11/2008 08:36

trojan...if MFI go into administation will it be good and bad news? bad news that half stores will revert back to gfrm which were going to be used by mfi..the good news is that there may be less competition going 4ward?(although there may be cheap kitchens on the market for a while)

[trojan] 24/11/2008 17:41

I believe so re the MFI leases, but methinks many of them would be leased out very quickly as they have some good retail space that would suit other retailers.

I think the housing sector will start to show signs of recovery at the end of 09 and 2010 will be interesting!!

Right time to log off and pour a drink, catch you later.

[patviera] 24/11/2008 17:29

thats what i was hoping!! any later and most retailers will be bust!!...if there is a recovery in mkts it will be on premise that economy does recover then...if not back down we go....I suppose any recovery within 2 years and we are laughing as shareholders....do you think if mfi doesnt come out of administration..ie all 46 props stay with gfrm that that is now in the price?

[trojan] 24/11/2008 17:07

Managers get to put forward their individual store business plans etc for next year, most companies will have thier own growth fig etc in mind but they will look at what the stores are putting forward in terms of local expectations.

Did you listen to the speech by AD in the commons, he thinks the recovery will start in the 3rd qtr of 09!!!

Time will tell.

[patviera] 24/11/2008 16:59

what do you mean about pitching their business? I hope the market is wrong about 3p eps as it means gfrm will struggle to get above 30p in my opinion.

[trojan] 24/11/2008 14:46

I don't know off of the top of my head, but it would not surprise me to see it increase at all in this climate.
If the VAT is dropped it will be interesting to see how this may encourge some sales as it is big purchases like kitchens that will bring the business in methinks!

3 day managers conference this week for all the depots, it will be interesting to see where they pitch thier businesses for next year!!!

[patviera] 24/11/2008 12:48

I believe PALI have increased there debt forecast from 40 mill to 55 mill at year end...this is just what ive heard...if it is the case any thoughts? were they lower than mkt 4cast?

[trojan] 24/11/2008 12:22

To be honest Pat, I'm not sure those forecasts are right and in the current climate, how can you price anything!!

My view is a very simple one and based on the business and it's market place, I strongly believe that they are a steal at this level.

I see no reason for them not to be in the late 30's mid 40's in today's climate with a swift rise to 60p on any sign of confidence in the housing sector.

That of course is just guess work and how I see the company and it's products, fwiw.

[patviera] 24/11/2008 10:16

trojan...if broker forecasts are correct at 3.0p eps(10 and 11) what do you think the price of gfrm should be?

[patviera] 19/11/2008 16:32

trojan...supposedly debt change?

[patviera] 19/11/2008 14:56

thx trojan

[trojan] 19/11/2008 14:36

Pat..

The Nobia news is not all doom & gloom and makes sense in the current climate and they even say they will continue to increase sites but at a slower pace, which is still good news!!

The whole "Nobia's Capital Markets Day in London on Wednesday" outcome is pasted below:

19 Nov 2008
Capital Markets Day 2008: Braking and accelerating


The financial crisis and economic downturn are impacting demand for kitchens. Nobia is implementing capacity adjustments to adapt the company to a weaker market, while at the same time investing in new concepts for developing its offering towards new customer groups. These were the issues discussed at Nobia's Capital Markets Day in London on Wednesday.

The European kitchen market has weakened. Customers are delaying their renovation decisions. At the same time, activity in the new-builds segment is declining. It is not currently possible for anyone to predict how extensive and long-lasting the downturn will be.

"Our starting point is to approach a market in decline through such measures as capacity adjustments and the consolidation of production units. We are also honing our offering in the various sales channels and are continuing to develop the store network, although at a slower pace than previously," says Preben Bager, President and CEO.

To better prepare for weaker demand, Nobia restructured its organisation in the autumn, resulting in fewer and larger business units. The number of business units has changed from 14 to eight. This will enable better co-ordination in production, purchasing and administration. Nobia has initiated programmes in all of its business units to enhance the efficiency of the operations and reduce costs. The company is also slowing its pace in establishing new stores. As part of its work to better utilise economies of scale and optimise use of production capacity, the Forssa plant in Finland will be closed. As a result, production of Nobia's three brands in Finland will be concentrated to the Nastola plant. The consolidation is planned to be fully implemented during 2009. The restructuring of production is expected to result in nonrecurring costs and new investments totalling approximately SEK 40 million. Annual savings of approximately SEK 17 million are expected to be generated from 2010.

The trend of kitchens becoming increasingly similar in Europe presents opportunities for enhanced cost efficiency in the supply chain. Product harmonisation and purchasing co-ordination between Nobia's business units and brands is a high-priority area. An increasingly large portion of the total purchasing volume will be outsourced to low-cost countries, including China.

In parallel with the adjustments to a weaker market, Nobia is focusing aggressively on new concepts for new customer groups and on continuing the expansion of its store network, although at a slower pace than previously. For example, HTH launched a new concept and product programme in the Norwegian flat-pack kitchen market in the economy segment. The new concept will not only provide customers with the opportunity to have their kitchen delivered as a flat pack at a lower price, but customers can also use a 3D design program on the Internet to customise their kitchen. Another example is exporting successful brand concepts to other countries, as started this year with the French brand Hygena in Spain.

[trojan] 19/11/2008 14:15

Pat.. ;)

The skill to investing, as we know, is buying at the low and selling close to the high and in times like these when peeps are losing money, someone somewhere is making money!!!!!

I can't believe your friend is making decisions on a book he/she has just read!

I don't think this is the time to be "V V bearish", the time to do that was 6 months a go imo and the time now is to find the stocks that will recover and recover very quickly on any positive vibes from the housing/financial sector.

Interest rates will come down further as I have said before and as soon as the lenders start lending to each other again and provide some better mortgage products (not too far away methinks) we will have some confidence again in the markets. I am not saying things will just recover over night off course as that will take another 12/18 months to really get going again, but some stocks will start to take off and 1/2 bag very quickly because they will have beeen trading miles off their highs like GFRM!!

Just my opinion of course and DYOR before listening to others and that includes me!! lol ;)

[patviera] 19/11/2008 14:11

trojan...anncmt out by Nobia.restructuring due to financial crisis affecting demand for kitchens

[patviera] 19/11/2008 10:20

trojan...yes my friend is v v bearish as he has just read a book that has concinced him that most stks are going to 10 pct of their highs....nearly there!!You have hit nail on head im obviously too big in this stock!!I agree with you on everything you have said about this stk and investing...I still disagree about the directors investing...We will agree to disagree!!