But shopping at Asda instead of Marks will hurt them..Damocles said:There is no way that they would go out business.
But shopping at Asda instead of Marks will hurt them..Damocles said:There is no way that they would go out business.
Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
salfordblues said:Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
What are the consequences of them not making this payment?
salfordblues said:Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
What are the consequences of them not making this payment?
Not 100% sure. I'd need to look at the Bond Prospectus document to see if there were any penalties for default but at the very least it would be a massive, massive embarrassment for them. One impact would be to hugely reduce any price the Glazers could get for them as any attempt at a sale would be seen as a fire sale.salfordblues said:Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
What are the consequences of them not making this payment?
Prestwich_Blue said:Not 100% sure. I'd need to look at the Bond Prospectus document to see if there were any penalties for default but at the very least it would be a massive, massive embarrassment for them. One impact would be to hugely reduce any price the Glazers could get for them as any attempt at a sale would be seen as a fire sale.salfordblues said:Prestwich_Blue said:Update on this:
They have to make the next interest payment on February 1st, not April or June as was originally thought. That means they've got 2 weeks to come up with £20m that they haven't currently got.
What are the consequences of them not making this payment?
They absolutely have to make this payment or face a critical blow to their credibility. They should be OK for the next one in August as they'll have enough cash then but they'll probably have to sell someone decent to top up the bank account to avoid a repeat next February.