Steve, I am with you on this one. I have taken a serious bath on this one. Tony Alford should never visit my home - I sheet all of RFG ills to him.
I digress; I doubled down at 41.5c back in June. Yes RFG was in a world of pain but it will still have over 1200 stores in Australia and a growing international footprint so it is producing operating cashflow and just needs a break, maybe sell a business to relieve some debt pressure. The new CEO Richard Hinson has a deep understanding of franchising and when a business gets into trouble it needs an industry specialist to put it right.
Richard Hinson is a class act. I have corresponded with him several times over the last few months and each time I have received a considered reply.
I may end up with egg on my face but I am prepared to give him a go.
RFG Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
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