The report is quite clear that equity holders are completely wiped out. There is still hope with the bonds which will be converted to stock although the details are fully not laid out yet.
Fifty (50%) percent or more of ZQK sales comes from overseas. My hope is alive.
Don't be in a panic mode to sell everything because of this fact. You'll regret it. Besides you can't sell your shares even at a cheap price if there's no buyer. Best thing to do is don't do anything. Keep focusing to the fact above.
So in reality what happens to the money I left if any. As I can't sell my shares? Or should I have any hope n tide it out???? I'm a newbie to the stock market n learning as I go. Last night was a costly one lol
Lol it took them 2 weeks with their consultant to decide this. Not very difficult imo.
Hope? Okay, I'll dream with you. Newspaper taxi's appear on the wall waiting to take you away. Climb in the back with your head in the clouds and you're gone.. lucy in the sky with diamonds....chorus please....
Chief Executive Agnes said the bankruptcy plan is a “difficult but necessary step” and will help complete a turnaround of the company’s U.S. business.
Quiksilver’s Asia and European units are not part of the filing.
There is still good news left. For this reason, my shares still have hope.
Even if I sell my shares at a very low price if there is no buyer, I am still a bag holder.
No buyer = No transaction.
You keep your shares going down the drain.
Sounds solid as usual....too funny. Of course you need to sell your product online where your core audience is. This company never did it, never got it. While others did and took sales away over the last 3 years while ZQK was working on getting rid of fat, it's competition was out creating partnerships to sell to its target audience's new ways it shops.
I certainly thought there would be a sale of the brands with a value incl debt at $1b, but debt holders have different objectives than shareholders and are not on the same team so to speak. I was wrong, but live and learn.
Unless a last minute change, it will be relisted on the OTCBB. Shorts and option traders can settle up, and common share holders will charged a small fee in their brokerage account for the change over. Then the company will undergo restructure and money will start to go out the door to pay down debt, class action law suits goes after management (wins fails who knows with Quik) and finally company is an indirect wholly owned subsidiary with no investors, bonds, leans, or law suits tied it and can be shopped.
Oh okay thank you for your help. This may sound stupid but will my shares still be with the new listed symbol or are they gone? Also how will I know what the new symbol will be? Is it going to be the OTC market?
Commons share holders are dusted when a company goes BK. Quiksilver will work on restructure and sell off assets, common share holders will get nothing, ultimately an indirect wholly owned subsidiary will be in place and the company sold.