Pittards Share Discussion Threads

[baner] 24/3/2023 15:05

gilou9

it is close now.........next placing will be at 10p +/-. if at all.........

[clocktower] 21/3/2023 07:44

I hope you’re correct as the company has a long history and employs a lot of people in Somerset. However maybe you would like to tell us more about what is going on, as you are well informed according to your post.

Note sure about the debt being manageable though, and as for the huge stock moving, we need proof of a big reduction, not statements about increasing prices of the raw materials.

[gilou9] 20/3/2023 20:16

Pittards isn’t going belly up baner. Debt manageable and stock is moving. Try talking to people that know what the state of play and you might get an idea of what’s going on. More going on than meets the eye.

Oversold and share price rock bottom baner

[clocktower] 20/3/2023 14:44

banner I agree with you and as for the shares being at rock bottom levels gilou9, they are next to worthless unless the buyers continue to add to their stakes, as it seems no other buyers are ready to jump in and make an offer for the company.

The company website is tired looking - as for the Hill & Friends one they bought off a liquidator last year with the stock etc - it seems to be the same as was will no new exciting lines, and no promotion in the media as far as I have noticed.

As for Daines & Hathway it looks as though they are still selling the same range with little or no new product over the past five years or a lot more maybe.

[baner] 20/3/2023 09:07

Clear risk this company will go belly up - far too much debt and far too much non-moving stock. Terrible performance of the management team. Sad story.

[gilou9] 09/3/2023 11:56

Just the one small sell so far today. Why would someone sell at this time, share price rock bottom, big investor increasing holdings, more going on than meets the eye.

[clocktower] 09/3/2023 07:25

I believe that the revaluation of the property and assets across the group is what the stake builders are focusing upon.

I believe they will have discussed the loss that was due to the stupidity of taking the position they did in regards to the US$ as a one off, now there is a new CFO in place, which may have been at Mr.R’s wishes or should I say introduction.

There are now even less shares floating and if they have a plan how to dispose of the huge stock that has been a burden for some considerable time, then much of the debt would be reduced to say £6 million. This would then be manageable and the company would likely return to something that it was once but they will need new management at the top due to the age of the CEO.

This is likely to rumble on until the revaluation is complete imo

[gilou9] 08/3/2023 16:27

Come on Mr Black reveal your hand and your plan.

A few buys on market but we’re going to require more to shift the share price by the looks of it.

[clocktower] 08/3/2023 16:09

The Brands:











Bear in mind they supply a huge number of leading brands - Shoes - Gloves - and many others with leather.

[clocktower] 08/3/2023 15:51

With a market cap of around 5 million debt at 11 million + what is the asset value if you took it over?

The factories are worth what? They are revaluing them?

The machines inside were upgraded a couple of years ago, so what value there plus the brand, the website and the huge stock (which one has to value at maybe 20p in the £.

The other big holder would have a big say in what goes on.

[clocktower] 08/3/2023 15:46

I guess those two trades have been picked up by the stake builder but where is the stock coming from as we have not seen sales of any size either, or are they sells being picked up by the MM for the sale onwards off market?

The debt and huge stock is the issue.

[gilou9] 08/3/2023 15:10

I see a number of directors were buying shares in January in the high 50’s before the trading update that led to the fall in share price to this level. They obviously hadn’t anticipated this much of a fall in the share price

[gilou9] 08/3/2023 14:55

Even without Mr Black investing with some master plan in mind I would have expected to see a gradual recovery, just a case of how long that might take.

[gilou9] 08/3/2023 14:52

With something going on behind the scenes that we can only speculate about kaos3 I don’t see the share price falling much if any further as Mr Black obviously has a plan which should eventually become clear and with it a much improved share price I would expect.

What is his intention that’s the big question.

[kaos3] 08/3/2023 14:20

I do not know - but the trade wars and cheap competition based on environmental and labour advantage is going away. So domestic suffering industry will slowly but surely get better environment to be operating in. Taking a strategic stake in a leader makes a complete sense to me.

I traded few times in and out but might make a very small investment for the long term here. Never expecting a divi sadly.

[gilou9] 08/3/2023 14:18

The February trading update does not make good reading so Mr Black must have some big idea.

[gilou9] 08/3/2023 13:26

Thanks for that confirmation Bookbroker. I hope they survive as well, good for Yeovil and surrounding area and always good to see UK companies flourishing.

Trouble is who is this Mr Black, where’s he been acquiring the shares from and what’s his interest.

[bookbroker] 08/3/2023 13:21

They still own the property on the Sherborne Road, I hope this company survives, has a grand factory shop with 00’s of pairs of leather gloves, something for everyone, lots of D&H accessories, and loads of offcuts of leather of different thicknesses for sale. Fascinating shop by the factory!

[gilou9] 08/3/2023 13:04

Pittards used to own large site in Yeovil plus some smaller plots I don’t know if they still do. If they do then that could be the reason.

[gilou9] 08/3/2023 13:02

It’s been going on for days so who is selling.

[clocktower] 08/3/2023 12:51

Agreed gilou9 that is the second increase today but only a few trades, so one can only assume there is off market transactions taking place.

[gilou9] 08/3/2023 12:40

Somethings going on with Pittatds. Some serious building of holdings, preparing for buyout while rock bottom possibly.

[clocktower] 08/3/2023 07:38

Another increase of holdings, there must be some off market transactions being done, as unless I am mistaken there does not seem to have been sufficient volume to account for the recent changes/additions in holdings.

Something big on the horizon?

[clocktower] 06/3/2023 12:11

Armstrong adding. So I think something must be cooking as Mr Rendell added recently as well. Maybe news before the delayed results.