Post by
pennylane101 on Oct 12, 2021 7:17am
Plan of Arrangement...
In Reitman's application for an extention of the stay proceedings they indicated that they were optimistic they would be in a position to file its plan of arrangement within 90 days of the filing, which I calculated to be December 14 at the very latest. It could happen any day now and when it does, I'm sure it will be a chaotic trading day.
Comment by
GroovyMotion on Oct 12, 2021 8:40am
Hi, I am new here but the last PR says by January 22? Cheers!
Comment by
pennylane101 on Oct 12, 2021 9:26am
Hi, The application for the 5th extention on the Monitor's website explicity states that management is "optimistic that it will be in a position to file its plan of arrangement within ( 90 ) days from the date of this Application. The application is dated Sept 13. Hope this helps.
Comment by
pennylane101 on Oct 12, 2021 9:31am
The court order actually extends the stay period and application until Jan 28, 2022 but management thinks they can resolve matters before then i.ie., within 90 days.
Comment by
GroovyMotion on Oct 12, 2021 10:00am
Oh ok, thanks for the clarification ! Let's hope and see! :) Cheers!
Comment by
bucheroncapital on Oct 13, 2021 10:55am
End of the day RET has 413 Stores, the Brand is strong , their on line sales are good, they cleaned up some leases they narrowed their banners and they have a cheap market cap, on top of it they can generate proftis (as last QT showed) I pledge patience the value is there ! GLTA long on RET!