Revenue shrinking as 200 stores are closing, big expense to close stores, no near term profitability.... debt increasing, Q4 loss could hit $0.58 per share... where is the juice? nothing exciting for future. This will tank tomorrow.
yeah, people told me I was nuts yesterday when I said the CC was bad news.. it was a short term liquidity plan... more debt just to operate the company, and in the call, he stated it wouldn't be until towards the end of 2012 before they got those approx 200 stores closed. CEO is an idiot. The only good thing they said was that the renegotiated the lease contracts, which will pull down some of their costs. After Wells Fargo and the private equity company get access to everything, what do you think the stock holder is left with? Oh they announced a stockholder protection plan? Now why would they do that? Because you should be concerned, and this "plan" is just supposed to make you feel better. I used to believe in this company, but I think others were right, it's circling the drain and continuing to lose money.