JJB - an update

[boss 1,941]

Since I wrote about JJB a few days ago their share price has continued to plummet.

They managed to buy a few weeks by 'agreeing' with their bankers that the £20m due to Kaupthing this week would instead be shared among all the lenders: Kaupthing, HBOS and Barclays. Basically the latter two banks said 'give us some of that money or we pull the plug'.

Shares fell again this morning to about 6p. Remember that Sports Direct and JD Sports bought in around 30p just a month or so ago! Some analysts have now lowered their price target for JJB shares to 1p or less. Here's the graph for the last year:

The best case scenario for JJB is likely to be for the banks to accept their losses, restructure the company whereby the banks swap their loans for equity, and hope against hope for an upturn in trading. There is almost certainly no (or next to no) value left for shareholders. As this would be JJB entering into an agreement with their creditors, such a development should be covered in our licence agreement with them as an 'insolvency event' and allow us to walk away.

As always, do your own research

[covenanter 158]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde. I conclude that JJB are FUCKED. As much as I love a graph, whatever happened to Pie Charts? So colourful.

[GeneralCartmanLee 313]

I just hope we are using this time to plan for the inevitable. However long they manage to last we will need to be ready to start distributing our own merchandise when they do go out of business.. I see no way back for them now.

[sandyboyblue 226]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde. I conclude that JJB are FUCKED. As much as I love a graph, whatever happened to Pie Charts? So colourful.

I like the cut of your jib! very amusing

[CanadianBacon 2,088]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde. I conclude that JJB are FUCKED. As much as I love a graph, whatever happened to Pie Charts? So colourful.

I believe one Derek Johnstone (late of this parish) ate all the pie charts.

[boss 1,941]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

[CanadianBacon 2,088]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

Fight! Fight! Fight! Fight!

[Mike Newells Sexist Army 2]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

Glasgow is for rugby playing toffs and poofs.

*May or may not be graduating from Strath with economics degree next year.

[boss 1,941]

*May or may not be graduating from Strath with economics degree next year.

Oh, you will. They give them out like sweeties at that place.

:harhar:

[covenanter 158]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

[covenanter 158]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

[covenanter 158]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde.

My recollection is that Strathclyde University started life as a two-bit "place of useful learning" named Anderson's Institution in 1796. An institution, indeed - plus ça change.

And was variously known as:

Anderson's University (illegally, as it was not a university)

Glasgow and West of Scotland Technical College

Royal College of Science and Technology

before, finally, University of Strathclyde in 1964

It's more mixed up than Aiden McGeady.

Until 1964, the very brightest inmates at Strathclyde were allowed to graduate from the University of Glasgow. Those not quite of University standard could become Associates of the Royal College of Science and Technology (ARCST). Or, as they were better known, Arcst holes.

But hey, for those that can't get into Glasgow, I suppose Strathclyde is better than Paisley Tech. Just.

Ah, the Royal Tech', my preferred choice for tertiary education because it had a really good Union and a most active Ents' Committee, attracting bands such as the Kinks, Blondie, Squeeze, ........................, and Gino Washington and his RamJam Band.

The thing about Gilmorehill was the Mens' Union(now the GU). I believe it was 1982ish before they allowed women into the place, 600 years of cracking their collective cheese in each others Caramac corner. Glasgow Uni, more homo-erotic than the Botanical Truth Fairy's continual devotion to Dorothy's exploits on the yellow brick road? Absolutely, klick those sparkly red heels together three times and keep hugging Toto. Ever wondered why Gu's graduation gowns and cowals are made of gingham?

[CanadianBacon 2,088]

As a non-Yooni-attending-early-70's-straight-out-of-work-and-into-the-workhouse fledgling I often envied you Yooni types with your pot-smoking lifestyle and, er..........that's it.

:harhar:

[murdoch1000 0]

Glasgow is for rugby playing toffs and poofs.

*May or may not be graduating from Strath with economics degree next year.

If that's what you think of Glasgow Uni then I'd better not admit to having got my undergraduate degree from Oxford...

[contacts 0]

What a rather splendid thread.............. One wonders what Daphne would think of it all.............

[Bluepeter9 5,167]

It may be 30 years ago, but I did manage a Sportsmans' Honours degree in Economics from the world's finest establishment of tertiary education, the University of Strathclyde. I conclude that JJB are FUCKED. As much as I love a graph, whatever happened to Pie Charts? So colourful.

I have been running businesses for about 30 years now, some did extremely well - some not so good, but I have always done OK. - I dislike accountants with a passion (sorry guys but its because they have no soul or feel for business (to an accountant thats a compliment BTW)) but using all my experienece (and reading Boss!!) and looking into my heart at the soul of the JJB business I can categorically agree with Boss and covenanter - JJB is fucked

[Bluedell 14]

I have been running businesses for about 30 years now, some did extremely well - some not so good, but I have always done OK. - I dislike accountants with a passion (sorry guys but its because they have no soul or feel for business (to an accountant thats a compliment BTW))

I've come across plenty of accountants who run very successful businesses and also met plenty of marketing guys who think they understand businesses and don't.