Ann: FY19 Results Presentation, page-14

I've told you, they need to focus on the current franchisee, this will improve the brand and then sell the assets to get the debt under control, as long as they are still remain +ve NPAT and can pay their interest, that's what the bank will look at (IMO), right now it's hard to see them get even $150M of that $265M debt, if they can achieve this, the MC will get back to $200M and then they can do a CR to pay the remaining debt....I can't see it worth the $1B+ anymore, which they got into trouble by expanding too fast in this retail climate.