CLH cooked its business with large amounts of leverage secured by aggressively valued debt ledgers.
By bye equity.
We've all been there, when I first started investing I bought Dick Smith. It was a private equity hatchet job regurgitated back on the public market. I never even personally shopped there, I shopped at JB. Hindsight is a beautiful thing.
And in terms of the board and management spinning positivity as early as a few months ago, well what do you expect them to do? FTI has since revealed in the background they were feverishly trying to recapitalise the business!
