No mention of PIK payment on any conference calls today or last week...just pretending like everything is ok....talk about the elephant in the room....omg....WTF
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https://www.bloomberg.com/news/articles/2023-07-06/sycamore-backed-belk-expects-lower-sales-and-rising-debt-costs
A PIK, or payment in kind, is a type of high-risk loan or bond that allows borrowers to pay interest with additional debt, rather than cash.
Whats pik payment?