Ann: Creditors vote in favour of DOCA Proposal, page-5

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25/08/23

17:40

Post #: 69555718
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Originally posted by Harrycool: ↑

Well what an ignaminious end to a 70 + year old Company that not too many years ago turned over in excess of $1 billion. An Australian icon. When you have the critical mass that Hills once had nobody pays much attention to the Management as profits pour in and dividends get paid. Nobody wonders whether there may be more available. When management makes strategic errors and sells off that portion of the shop that is making money and then has to sell off more because cash flow is falling and the critical mass has gone its too late to pay attention. It becomes a scramble to survive with rising costs and falling income, survival becomes impossible. This is Hills story in a nut shell. Surprisingly all the loss making products that have been sold appear to still be around (Hills Hoists, etc. ) obviously making money under different management with a different strategy, then one has to question the skills that Hills management had over the years.
Well next week Hills gets delisted never to be seen again, inter generational wealth destroyed, $280 million of shareholders funds destroyed, your money and mine.
Hand over the keys to Stellar they obviously will absorb your kind gift into their business, by doing so will reduce the cost structure, thus making the products profitable and in so doing will reap the rewards. Rewards that should under a better management regime be going to the long term, loyal shareholders that Hills once had.
This has been coming for a long time, falling sales, negative cashflows, inadequate margins all add up to a short term future. We knew this was coming it was just the last act and the final scene to be played out that we could not predict.

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It all started with Jenny, she tried to change everything, but stuffed everything up, if half the story's I heard about her while I was working at Edwardstown, I am surprised it lasted as long as it did.
The only thing that is sort of good about all this is that it appears Jenny is the biggest loser of all.

HIL Price at posting: 2.3¢ Sentiment: None Disclosure: Held
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Ann: Creditors vote in favour of DOCA Proposal, page-5

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