Land Of Leather Share Discussion Threads

[still waiting] 21/6/2008 15:43

B*ll*cks to that, far too wet outside.

[karn evil 9] 21/6/2008 09:07

The stores will now be swamped with potential investors !!!

3 million through the doors and one sofa sold.

[still waiting] 20/6/2008 23:51

If you think LAN is a buy you should visit a LAN store this w/e and report how many paying customers there are.

I bet it'll not be many.

no getting around in 4months LAN has gone through 11m in cash and still needs to pay all the june quarter rent and monthly payroll costs, unbelievable the directors consider this a going concern even after the placing.

[lpavlou] 20/6/2008 23:40

guys, with 110 stores, they are going to need to pay circa £6m in rent next week. also, would you risk buying a sofa from them now, knowing they are in trouble. Sales will continue to fall, expect the underwriters to pick up all the shares. L & G pulling out, but too late.

[elssworth] 20/6/2008 18:48

Lots of good deals katie!
They've opened the doors to the staff canteen for the public...with every bag of chips you get a 2 seater leather recliner, FREE!!

Hope this helps
Thanks

[still waiting] 20/6/2008 18:23

make sure you get a toxic suit as well mind.

[katieprice] 20/6/2008 17:39

Might pop down to the local shop this weekend to see if there are any good deals on...

;)

Might get myself a cheap sofa for the chiuahua's

KP

[loganair] 20/6/2008 17:04

mr m - I wouldn't say I'm short, actually I'm slightly taller than the average.

[mr m] 20/6/2008 16:47

I take it you're all short?? Lol Well at least you dont make it obvious eh!

Come on you weak holders SELL SELL SELL!!! LOL

[shorter killer] 20/6/2008 16:34

towards to nil. get out now when there is still a tiny left. :)

[riptracker] 20/6/2008 16:14

Exactly and give the faulty leather seats away to a field as they are contaminated with fungus and burn skin. No wonder this company is a health hazzard.

[loganair] 20/6/2008 16:00

Karn - I think it's a little too late as already past the point of resuscitation. Better to put the poor thing out of its misery. Less painful that way.

[riptracker] 20/6/2008 15:55

down to 1.15p for " LAN" then o.35p...... timber and bye, bye. assured.!!!

[karn evil 9] 20/6/2008 15:54

Kindly move along please ..... there's nothing to see !!!

Give the medic's room !!!

[csmwssk1] 20/6/2008 15:50

they have not got the money yet and probably wont

[trojan] 20/6/2008 15:03

Hell for Land of Leather
By Andrew Hill

Published: June 19 2008 22:09 | Last updated: June 19 2008 22:09

Land of Leather has delved deep down the back of the sofa and found enough cash to continue in business. The fact that the furniture retailer came close to collapse is a useful reminder that even companies without huge debts or inept management can come close to failure in an economic downturn.

In spite of a dramatic decline in trading, the company expects to end the year profitable and with net cash in the bank. A leading shareholder voiced criticism of that bank on Thursday. Barclays had demanded £4.5m in collateral from Land of Leather to continue providing credit card clearing facilities. The bank decided it was at too much risk from customers reclaiming deposits paid on their credit cards if the retailer went bankrupt.

Unfortunately, the demand could have been enough to cause the bankruptcy. In the event, shareholders were willing enough, and executives and their advisers agile enough, to raise funds for both collateral and other working capital needs for at least the next 12 months.

Barclays and its rival banks have a responsibility to ensure their risk-taking is kept within prudent limits. They have their own shareholders, after all. Providing credit card services to companies that take deposits – travel agents and carpet sellers are in the same bracket – is many times more risky than servicing a retailer that hands over the goods at the checkout. Sadly, furniture retailers will go bust in the next year and they will include cases where banking services were justifiably restricted or withdrawn.

But a retailer that has been a customer of a bank for many years and is doing everything right to ensure its survival deserves some support. When weighing the risk of a retailer's collapse the banks need to ensure they do not overstate that prospect (turning it into a self-fulfilling prophecy) and understate the reputational risk of being seen to put a big employer and household name out of business.

[bullet8] 20/6/2008 09:56

just the start of a retrace imo

[shorter killer] 20/6/2008 09:44

lan is up 9%+, wow.

[csmwssk1] 20/6/2008 00:54

na i think he ment bounce off the wall into the bin as he switched the lights off and closed the door behind him.

[25cent] 20/6/2008 00:15

As in bounce off the toilet seat rim into the bog and then down the drain?
Is that the sort of bounce your expecting?

[bullet8] 20/6/2008 00:13

these will bounce fri.

[knowing] 19/6/2008 22:01

Not another loser Hammy?

[judgement] 19/6/2008 21:57

The share price of this company has been droping more than I expected.
I am becoming increasingly suspicious that something is amiss. Does anyone else share that concern?

[robizm] 19/6/2008 20:29

Independent furniture shops are disapearing as well in cardiff. 3 have gone this year already. capacity needs to drop quite a bit more though. i thought they would need more than 15 million. should not have bought those shares or paid the dividend