RE:RE:RE:RE:RE:RE:RE:Insolvency Filings Incoming? I don't think they will convert. They will just continue collecting 80k interest every quarter.
> significant short-term cash flow problems that they cannot overcome through operations alone.
They don't really seem to have significant cash-flow problems. They just completed major renos. They are done. Expenses are way way down this quarter compared to previous couple of quarters. If they simply focus on selling groceries they can eliminate any cash flow issues. Seems to be what they are doing.
My point is the company has a bunch of successful stores filled with inventory. During some of the highest food inflation times in decades. Grocercy stores are making a lot of money. Organic Garage is no different. They've been pushing growth for years. If they are short on cash they can pivot very quickly and do quite well with the existing revenue.
I don't have any insider info.. I am an organic garage customer though. I don't see why they would go into bankruptcy when they have the kind of revenue they have and they've completed the renos which were entirely executed from a growth perspective. Meaning.. they weren't required. They are done now. So that's like them opening 2 locations in the past quarter.
If the whole company is corrupt then sure.. maybe it will fold from greed. But wouldn't take a rocket scientist to keep this business open with the revenue they have.