Sports Direct Share Discussion Threads

[stephen1946] 28/7/2019 17:12

Due Diligence seem`s to be ignored today, with horrendous consequences in this case.

Might just be a blessing Ashley failed to buy Deb`s.

[cautious7] 28/7/2019 17:03

PJ0077

That is very scary indeed.

Just proves my theory that this type of tax bill just does pop through the post.

I was going to try and buy at lows early tomorrow is shares are not suspended. Having though hard about it and I I suggested earlier today, there will be a semi crash in the price, a dead cat bounce and then new lows during the next few hours and may be new lows later in the week. I'm hoping to go in and out within a couple of hours.

DYOR ATB

Regards

C7

[pj0077] 28/7/2019 16:39

The last published Report & Accounts (year ending April 2018) state "there were no material contingent assets or liabilities at the balance sheet date."So it must be a surprise to now have a Eur674million contingent liability as a result of a Belgian tax audit. Curiously, the sum includes "200% penalties and interest" suggesting that this claim is long outstanding.I don't think it's too outrageous to be fearful that this isn't the last skeleton to be found in the cupboard.

[still waiting] 28/7/2019 16:38

How can you have a potential tax bill of over half the m cap and still say there will be an orderly market with all known facts..

Impossible.

Good luck holders.

[debsdowner] 28/7/2019 16:14

Useless23

28 Jul '19 - 11:48 - 6468 of 6471
0 0 0
Is SPD owe Belgium 600m and we leave the EU on 31 October, would it not be better for SpD to simply wind up the business there and not pay the bill?

You cannot just wind the business up Sports Direct " The Company" is liable for Belgium tax sales through the company by one way and the other that is why they are landed with a tax bill penalties and interest and bear in mind interest will still accrue up to the day the bill is paid, with the caveat if its indeed determined its legally obliged to pay. At the moment it spears SPD are saying they don't agree with the assessment but there have been cases over here on a different agenda with Sports Stars objecting to tax bills in the UK by placing their money in schemes to avoid tax then being ordered to pay them in the end.

I know the tax demand by the Belgium tax authorities analogy completely different but its a grave matter all the same the company had to warn shareholders of the matter due to the significance of the potential liability.

The fact is the bill is there its demanded, its irrelevant if SPD think they are not liable Belgium authorities think different.

Until it determined SPD don't have to pay the bill, there is a significant liability that cannot be ignored.

In the Express today Nick Bud a retail analyst stated Sports Direct doesn't deserve to be a listed company anymore.

[terminated] 28/7/2019 15:36

Regarding the tax bill: these things often go through lengthy negotiations and it is not usual to overexagerat the amount in contention only to accept a lower sum. The shares should be suspended until some clarity can be shown on this.

[pj0077] 28/7/2019 15:33

I tried to enter your post into Google Translate EGGY, but it still made no sense.

[pj0077] 28/7/2019 15:32

Thanks robot.Your assertion is without evidence, insight or merit, but entertaining nonetheless. Well done!

[eggy6198] 28/7/2019 14:26

Its not looking good in the short term said the people before the great flood but its not going to take 40 days but 40 minutes. The rush to the Arh or exist will be bibleical

[robert topgun] 28/7/2019 14:21

Talk of suppliers going proforma

[robot ic1] 28/7/2019 13:49

Its down to a £1.00 Tomorrow if your lucky ,

Batten down the hatches

[smcni1968] 28/7/2019 12:52

The part of the rant about how the set their provision for unsalable inventories- have fingers been pointed in the analyst community at them using this to manipulate earnings?

[banking_losses] 28/7/2019 12:14

It’s not looking great in the short term, but the core business is holding up well. Should’ve stuck to what he knows. Hopefully he will take stock of his seemingly haphazard buying spree and realise that it can’t continue in this manner. He needs to be more careful. Could present a long term opportunity if he starts taking decisive action and getting rid of dead weight.

The HoF stores are a fjucking disgrace. Rails of Lee Copper, Pierre Cardin, Everlast and other low value lines should be nowhere near the shop floors of a store trying to be the new ‘Harrods’;. I can only imagine as he bought the shops a lot of the designer brands and other product departments didn’t want to be devalued by his disruptive poorly planned out takeover and they removed themselves as quickly as possible. Seems to hint that Slevin and the Chinese have also taken a lot of the better agreements and deals out of the business prior to the handover. Where is the DD from a business once on the FTSE100?

[tomboyb] 28/7/2019 12:05

I mentioned before that overall retail is incredibly thin on the ground -

Very, very difficult markets and not just SPD -

A lot going online but even M&S struggling -

Never seen my local M&S so empty -

[smcni1968] 28/7/2019 12:01

Who has been sticking the letters from the Belgian taxman in their bottom drawer?

[useless23] 28/7/2019 11:48

Is SPD owe Belgium 600m and we leave the EU on 31 October, would it not be better for SpD to simply wind up the business there and not pay the bill?

[cautious7] 28/7/2019 11:45

Thanks Debsdowner.

About the tax bill and what you said.

Not sure how they work over there but in the uk if there anyhting drastic, the tax people do contact you before landing you with a massive bill.

What holders should be more worried about is what is the next bombshell.

IMO, the share price will give flase dawns and sadly people may try to top up, etc and get seriously caught out. Thankfully I'm not gambling in this atm but looking to make a quick few bob by the yo-yo share price tomorrow and I'm still of the opinion that the share may be suspened for various reasons even if its for a few hours.

DYOR

Regards

C7

[useless23] 28/7/2019 11:38

I remember those days you talk of DD. You have a weakness. You're very easy to wind up which is the why I did it. You were entertainment for me. I'm losing on SPD in the short term but it's just one investment of many. It doesn't bother me one jot.

[hotfinance14] 28/7/2019 10:27

SPD could lose more money when the GOAL shares are re-listed and they announce the position regarding the Vat issue of £12m owed to HMRC.

[debsdowner] 28/7/2019 10:06

Tim3

It did work but now dared and his strategy now completely flawed proof of that is introducing Sports Direct goods in HOF when on the other hand he claimed he wanted to be the Harrods of the High Street he was saying one thing and doing another it was obvious he had lost the plot.

Cautious7

Its unlikely they would lie about the date of the tax bill imo and part the reason why the delay in results Friday and during the day it would have been a bombshell came out of the blue and trying to figure out if they needed to allow for the creditor in their accounts !

[diku] 28/7/2019 09:54

Nothing wrong with zero hour contracts...at least it provides jobs...



He has some of the worst employee policies out there with massive amounts of staff on zero hour contracts.

[ignoble] 28/7/2019 09:46

Get the feeling that big Stores that try to sell everything under one roof are now outdated
In my neck of the woods, stores opening but are much smaller and, imho, much better for it
JD Sports, H and M, Milletts
In a funny sort of way, smaller stores work better

[tomboyb] 28/7/2019 09:29

Get rid of HoF -

Serious underlying problems here but can it be resolved? -

That tax issue? well....

I cannot retail improving anytime soon...