Seems like the boat has sunk and is waiting for rescue. Anybody know of any buyers looking to just buy this company out? I'm ready to jumpship!
6 replies (most recent on top)
Anybody interested would be better off waiting to see if they survive rather than take on all Of that debt. Anybody notice their latest filing (although no announcement), but they barely extended their bank facility and at terrible terms as banks want out and clearly see the risk. If they don’t generate cash immediately (probably won’t happen) and also sell more assets to repay debt, they don’t survive - plain and simple.
“Yes, toys r us have made an offer, all the money they have left plus a box of diapers for all senior managers”
Bwahahahahahahaha. Hahahahaa. Ha. Ha. So so funny. No really.......super funny
:-|
Yes, toys r us have made an offer, all the money they have left plus a box of diapers for all senior managers
Why would someone want to? It is not often that a train wreck like this comes along. Even Orville Redenbacher could not produce enough popcorn 🍿 for this story.
Why, it's 10 billion in debt no ability to raise money much less earn it their shares and garbage.
So NO....
NO ONE is going to come to the rescue and buy this thing as other companies at least act like they know how to run a business.
Simply put, WFT has too much debt. The only way to save any part of this thing is sell off some of the business units to bring the debt down. They will then have to file and hope they can shed the rest of the debt, reorg and come out of it with someone willing to take a chance on them and provide some access to money so the business can be run.
Don't see any money given to the team that is running the thing currently however so they all must go. Even if you think the C-Suite is doing what is needed to right the ship, they have kept a board that allowed this thing to get to where it is. It is irresponsible to keep them around, yet they are allowing it.
In the end, the field and general employees will be the looser in both jobs and payouts, management will ensure they take care of themselves (after all it is human nature and you would do the same if you were in their position).
good luck