Lookers Share Discussion Threads

[jaf111] 25/11/2020 10:05

Views on this gem from those who believe the company is asset rich......

However, given the extent of downturn that was seen in wave 1 of COVID-19, the ongoing uncertainty of COVID-19, the risks in respect of Brexit and the macro-economic factors that could affect the Group, additional stress testing of revenue volumes was performed to model further downsides in the key assumptions, which the Directors considered to be severe, but plausible. This scenario, indicated that despite resilience of liquidity the aggregate of these factors gave rise to a material uncertainty which may cast significant doubt over the Company's and Group's ability to continue as a going concern in the event that, following a covenant breach, lenders elect to trigger a repayment of outstanding debt. Without actioning the various mitigating actions available, the Company and Group may be unable to realise assets and discharge liabilities in the normal course of business. In view of the various sensitivities and additional stress testing, the Board concludes that preparing the accounts on the basis of going concern is appropriate.

[wobbly123] 25/11/2020 09:31

Jabers1 Missing In Action

[jaf111] 25/11/2020 07:45

still unable to manage the most simple of expectations.....16 Oct update stated interims to be published this month.....now stated today interims to be published next month.....when will they stop over-promising???

[anderson sw] 25/11/2020 07:35

In fairness to them given COVID and Brexit remain unresolved anything other than worries around going concern would suggest they’re delusional plus any auditor signing off on these statements given the horrors of the past will want some level of self preservation afforded.

So whilst it’s nasty to see the concerns laid bare in black and white I think really there’s no surprise whatsoever at their inclusion.

[jaf111] 25/11/2020 07:27

One massive pile of dung......unbelievable really...and still ongoing!

[daz1712] 25/11/2020 07:21

Doesn’t exactly give much confidence going forward, the FCA investigation still ongoing, bank facilities under negotiation and a going concern in question?

[daz1712] 24/11/2020 22:32

The statement quite clearly said accounts would be published in November and a application for the share suspension lifted before the account statements.
Only 3 days left to do both is a guessing game to the owners of the company who have been more than patient this year
Time for some clarity if this isn’t resolved by Friday!!

[loads2] 24/11/2020 22:16

I maintain my opinion that the directors and new directors at lookers plc are not up to it.

No sound or credible director puts out statements saying accounts will be published by june, then says by August then by October and then by November ....and then repeatedly fails to deliver.

Lookers board and senior management team are crass incompetent

[daz1712] 24/11/2020 21:45

The worry is looking at the above post is points 1-7 are all correct, will see if the short close comes right as well?🤔

[jabers1] 24/11/2020 16:42

🤡🤡🤡🤡 POSTED BY THE RESIDENT 🤡🤡🤡 ON THE 20th AUGUST...

Wobbly12320 Aug '20 - 07:07 - 2218 of 2309
0 2 0
1) Accounts delayed again.
2) Going to revise previous years figures.
3) Trading figures when you look past the spin, not good.
4) Still have FCA investigation.
5) Possible PCP compensation
6) 2nd wave ?
7) Shrinking the number of sites.


Very grim news for holders of Lookers shares. Have lowered my short close from 10p to 7p.

[loads2] 24/11/2020 09:55

How does anyone know Thursday is the day? Do you have an inside mole?

[jabers1] 24/11/2020 09:38

Wobbly123 lets wait until Thursday and then we can discuss your logic regarding your 10p or less target for lookers you 🤡🤡🤡

[wobbly123] 24/11/2020 09:21

Jabers1 You really shouldn't be investing your pocket money until you grow up.

[jabers1] 24/11/2020 08:47

Results are out very very soon

[loads2] 24/11/2020 08:25

Are lookers actually gonna report anything this month?

[jabers1] 24/11/2020 08:09

Wealth warning!!!! DO NOT LISTEN TO A 🤡🤡🤡 CALLED WOBBLY123

[loads2] 05/11/2020 11:02

lockdown1 in march lasted 3 months,
lockdown2 might last another 3 months.

So over a 12 month period, 6 months in some form of lockdown.

If we assume expiry of PCP terms is evenly spread over 12 months, that's an awful lot of PCPs reaching the end of their term during some form of lockdown

Either people pay the balloon payment (unlikely in present environment) or extend or enter into new PCP - but none of this is going to happen in a lockdown...

This then leads to all the pent up demand after lockdown.

Winter is always quiet anyway. Everything now seems to be a big recovery in everything from next spring

2021 registrations will definitely be higher than 2020

[wobbly123] 05/11/2020 10:33

Loads2
You need to factor in people losing jobs and the lockdown may not end 2nd Dec.

As to jabers1 comments-cuckoo land as always

[loads2] 05/11/2020 10:03

November and December will be down because of lockdown (apart from servicing Dealerships are closed) then there will be the pent up demand we've seen before.

Perhaps there will be record numbers for 21 new registrations after the dull winter.

[mortimer7] 05/11/2020 09:16

The total number of new cars registered in the UK in October were 140,945 vs 143,251 last year. A 1.6% reduction on October 2019. (SMMT Figures).

[loads2] 29/10/2020 12:07

TB wont be allowed to sell his shares for a while. So there wont be the feared dumping of his shares at least not in the short term

[jabers1] 29/10/2020 11:59

So you think selling just under 80m shares into a market thats volatile will be easy??

For you to think that TB is just going walk away and dump 80m shares into the market when trading resumes just doesn’t make sense and you are way off the mark.

How many of you would just walk away if you owned 20% of a company? Think about and try and work out why he has brought forward his departure........

[loads2] 29/10/2020 11:56

As I've said before - but have been slated here for saying it

There is more going on at lookers than just restating erroneous (due to the fraud) accounts.

My suspicions are they are doing a corporate governance overhaul (due to the fraud and explains why Bramall is leaving 'early') and quite possibly a refinancing (explains why debt is having to be or is just being repaid and cash is accumulating)

I strongly suspect the eventual announcement could mention governance and new funding arrangements as well as dealing with legacy issues like the fraud

[effortless cool] 29/10/2020 11:18

That's perhaps a naive perspective, Jabers.

A more cynical view would be that it is a lot easier to sell those shares if he is not on the board ....