Indeed. It beggars belief that the company would announce that it's filing for bankruptcy without, at bare minimum, calling companies in the same industry to see if there was any sort of transaction that could be worked out (whether a takeover, sale of assets or whatever). Yet that's what they did. It makes me wonder whether they didn't do that on purpose in order to devalue the assets massively so that a 'white knight' might come in and scoop them up for cents in the dollar. And then we discover down the track that the white knight is controlled by certain KSS directors or key shareholders. Stranger things have happened...
There is no doubt that there is potentially a light at the end of the tunnel. That light wasn't there last week, so it does give some hope. But let's pray that the light at the end of the tunnel isn't just the headlight of an oncoming train...
KSS Price at posting:
10.0¢ Sentiment: None Disclosure: Held
