Insolvency is an issue but I just can't see it happening. They could easily CR or go into debt. 40-60% gross margins offer a large buffer.
Imagine the embarrassment from Blundy's perspective. Take a 10% stake in a business, articles published all over the news and plastered on the front page of the AFR - and it goes bust within 12 months. He'd lose his $10m sure but the reputational risk to a billionaire retailer is invaluable.
Insolvency is an issue but I just can't see it happening. They...
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