The writings on the wall. The recent 10-K, press releases and furloughs. This company is going to put on a ton of debt to stay afloat, declare bankruptcy to restructure their debt amidst massive layoffs, and blame it on the virus rather than their piss poor management the last few years.
The balance sheet is not looking good.
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It’s actually good money management that has allowed the company to grow in the last 2 years. The board and CEO have a responsibility to keep the company alive no matter what. If that means furloughs and restructuring, then that’s what need to happen.
Agree, and thousands of other companies will follow suit. BK is a legal way for companies and individuals to not have to pay their bills (creditors), and to eliminate the Common shares/stocks in their company zeroing out shareholders, and of course any dividends too.
Judges will very likely be very 'generous' with allowing BKs due to C19. And credit rating companies will also be very willing to give them back "good" credit in just a couple of years. Lenders, and maybe even tax payers, will probably get BOHICA'd with all the BKs and defaults.