But don't they need a vote of shareholders to do this? The company is not in bankruptcy yet, they have plenty of cash and Walsh says cash flow positive. The debt payments don't come due til early 2017. We should have time to look for a better deal, or allow a better deal be offered. If we are getting nothing, all votes should be "NO". For a company that can put out 200MM in free cash flow. We should be able to get a better deal than $0
I now have 70,000K They are not bankrupt. If we could kick out everyone from Sycamore from the board and their hand picked goons, maybe it can turn around. They announced a lot of store closing and cuts. They identified a Sycamore supplier delaying product. Possibly a pony dance. Has a chance to turn it around. Maybe we get a few dollars thrown at us in a prepackaged or maybe the management will stop lying and start working.
Better be because Sycamore Partners trying to do what PSUN is doing is making me sick. Acquiring companies via bankruptcy so you don't have to pay shareholders anything. These private equity firms deserve 20 years in prison.