This article is written by the AFR's No 1 journo, Tony Boyd. You can assume it has has credibility.
My objective view of the article: SGH may survive, however SGH shareholders are about to be whacked!
Key quotes:
"The firm's total equity is now worth $90 million. But it is likely that will be burned up as part of the restructure."
"Chanticleer understands the major lenders to the firm are inclined to support a restructuring proposal and debt reduction plan that must be completed within the next 10 days."
what debt reduction? Via CR of course!!!!
SGH Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held