which one would have been better - - Chapter 11 or the dreaded Reverse Stock Split
If you still have your stake, what would you do?
You can try to unload some shares tomorrow with no limit order. You can right off a portion of your losses on your taxes.
There is a chance that shares will be halted tomorrow before the call. If you own it you will want to get out, 99% common share holders end up getting nothing after chapter 11. The company will end up getting desisted and relisted on the OTCBB after legal ch 11 is set , assets of the company are sold off and losses are written down, after such there is never any money for common stock holders (comes with the risk of investing).
Shorts can cover after such, takes a very long time, so most do such before the BK is filed.
Sorry dude, they are trying to dump retail stores, so do your due diligence and short the mall real estate broker that they use the most.
Unfortunately the Surf Wear market is done IMO. I know, I live at the beach in the OC.
You don't think they'll end up filing bk and wiping us all out? The news seems pretty daunting (and convincing...)
good luck. may want to make sure its for real...but thats it. maybe a dead cat bounce but dont count on it. truly bagholding here
Ok, it did not happen on Friday, that is true. But only because I heard that there where multiple offers and bridge loans that got leaked out some how and prevented things from taking its course. And keep in mind this was after a recent blue moon.
But remember, this is the same company nothing has changed expect for a few little cash problems, but now things are going to be back on track. I liked the opportunity at $0.80 and $0.64, and $0.51, and at $0.31, at $0.15 I love it. This is truly and iconic brand the world has ever been lucky to see and ran by the best of best in management. Go long and prosper my friends!!
Guys, listen the shorts are going to get pinched after earnings, be a big rally, expect news on new shoe product line, and a invigorated employer morale. I heard that everyone is very excited and believes the future is very bright. So, everyone hold on, in fact this just creates more buying opportunities. Hopefully shares are are not holed, because this time I am really going to buy shares. For sure this time!!
And stop worrying about selling to youth online, this is not as big as a deal as you would think. We need more retail stores and we sell on eBay or Amazon. So our competitors use a different online marketing web sites, who cares. We can do it guys. Come on now, let's all pick up some shares. Go long and prosper!!!
Results this Qtr must be pretty bad, bad enough to bring the situation to a head. If your trade creditors lose confidence, things can unravel quickly. Sad situation; I thought they could keep rolling long enough to sell some parts of the biz. The brands may be worth something, but a buyer can just buy those and execute using their own staff, facilities, etc. GLTA
(Here's part of today's news article) The company had been trying to attract bidders for a management-led buyout, ideally outside of a bankruptcy, Bloomberg reported.
But that approach would have made it harder to abandon the company’s costly leases, something Chapter 11 will allow Quiksilver to do. (Unquote)
This quote was in there (Quiksilver has been in discussions with potential strategic bidders, said the people, who asked not to be identified because the process is not public. The goal is a management-led buyout, preferably outside of a bankruptcy, which would allow the company to keep its stores, two of the people said.) now I see it was 6 days ago.... I found that quote around 2:30 pm, not there on the up-dated story around 4:30 pm, I do not get it, sorry
I kind of find it odd how they would 3 months ago state that they have enough liquidity to cover at least the next 12 months, hire Peter J. Solomon, then just all of a sudden reverse course and file for bankruptcy. Doesn't make any sense, and I'm sure they will hear from the institutional owners on the matter.
where did you see that? I just checked the register and didn't see any mention of that.