Thread regarding McDermott International Inc. layoffs

There is no money left. Can’t make the interest payments. HQ construction halted. Stock plunging. Bankruptcy is here!

There’s the door !

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Post ID: @1262XMpy

4 replies (most recent on top)

Critical indicator is usually if Biscuits are served with tea and coffee in corporate meetings. If the Biscuits go Trouble ahead 1

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Post ID: @1262XMpy-jkaj

Our finances can not be very bad. Office still stocked with tea & coffee.

Don’t believe the bankruptcy rumours.

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Post ID: @1262XMpy-4xzc

A temporary move I can assure you. Abysmal Q3 results, failure to make interest only payment under 10.625% unsecured note, CFO resigns in conjunction w/ company concealing SEC investigation. The superpriority loan will turn into DIP financing and McDermott will default on its 2024 notes after the grace period expires Dec. 1 and bankruptcy will ensue. Investors are looking for the "door".

Hopefully the Houston contractors who've put their companies at risk will get paid for their work on a building McDermott couldn't afford to begin with!

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Post ID: @1262XMpy-3xbd

We're still moving into the new building this Friday.

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Post ID: @1262XMpy-ktx

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