dbuch Posted May 8, 2020 Share Posted May 8, 2020 Where did you see this? Link to comment Share on other sites More sharing options...
CookingByTheNumbers Posted May 8, 2020 Share Posted May 8, 2020 Management is working with PJT Partners and a group of bank debt holders is working with Houlihan Lokey to advise on the likely covenant violation and potential restructuring. Not sure who bondholders are working with or if HL is advising a cross over group or only bank debt. Source @5xEBITDA??? Also, anyone have an idea on how much was drawn from the ABL? Recent press is stating $310m, but from 10K, it looks as if it could be up >410k. Massive volume today >5m! Somethings telling me that perhaps Burry is unloading remaining shares and may be out completely. Regardless, Burry or no Burry (I don't factor him in to my investing decision), this is a bummer - management is profoundly inept. This co. truly had the qualities and potential to make a tremendous come back. Link to comment Share on other sites More sharing options...
5xEBITDA Posted May 8, 2020 Share Posted May 8, 2020 Management is working with PJT Partners and a group of bank debt holders is working with Houlihan Lokey to advise on the likely covenant violation and potential restructuring. Not sure who bondholders are working with or if HL is advising a cross over group or only bank debt. Source @5xEBITDA??? Also, anyone have an idea on how much was drawn from the ABL? Recent press is stating $310m, but from 10K, it looks as if it could be up >410k. Massive volume today >5m! Somethings telling me that perhaps Burry is unloading remaining shares and may be out completely. Regardless, Burry or no Burry (I don't factor him in to my investing decision), this is a bummer - management is profoundly inept. This co. truly had the qualities and potential to make a tremendous come back. It was in an article by a reporter on a distressed debt news site Link to comment Share on other sites More sharing options...
CookingByTheNumbers Posted May 8, 2020 Share Posted May 8, 2020 Management is working with PJT Partners and a group of bank debt holders is working with Houlihan Lokey to advise on the likely covenant violation and potential restructuring. Not sure who bondholders are working with or if HL is advising a cross over group or only bank debt. Source @5xEBITDA??? Also, anyone have an idea on how much was drawn from the ABL? Recent press is stating $310m, but from 10K, it looks as if it could be up >410k. Massive volume today >5m! Somethings telling me that perhaps Burry is unloading remaining shares and may be out completely. Regardless, Burry or no Burry (I don't factor him in to my investing decision), this is a bummer - management is profoundly inept. This co. truly had the qualities and potential to make a tremendous come back. It was in an article by a reporter on a distressed debt news site Would you happen to have the link?? Link to comment Share on other sites More sharing options...
5xEBITDA Posted May 8, 2020 Share Posted May 8, 2020 Management is working with PJT Partners and a group of bank debt holders is working with Houlihan Lokey to advise on the likely covenant violation and potential restructuring. Not sure who bondholders are working with or if HL is advising a cross over group or only bank debt. Source @5xEBITDA??? Also, anyone have an idea on how much was drawn from the ABL? Recent press is stating $310m, but from 10K, it looks as if it could be up >410k. Massive volume today >5m! Somethings telling me that perhaps Burry is unloading remaining shares and may be out completely. Regardless, Burry or no Burry (I don't factor him in to my investing decision), this is a bummer - management is profoundly inept. This co. truly had the qualities and potential to make a tremendous come back. It was in an article by a reporter on a distressed debt news site Would you happen to have the link?? I can't provide a link because it is behind a portal log-in, but here is a screenshot. https://imgur.com/zkl75Y5 Link to comment Share on other sites More sharing options...
5xEBITDA Posted July 21, 2020 Share Posted July 21, 2020 Expect Ch 11. filing by August 1 Link to comment Share on other sites More sharing options...
dbuch Posted July 23, 2020 Share Posted July 23, 2020 yep, skipped interest payment started 30 day clock. Unsecured's trading at 5c and TL at 20c so bondholders don't expect much recovery. Link to comment Share on other sites More sharing options...
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