Ann: Myer Half Year Results (1H2018), page-140

We're in the dark here KBB. Had a look upon your jostling and missed the fact the leases are heavily weighted to profitable stores. They raised $221 million at $0.94 in 2015 to fund a 600 million turnaround plan. Myer relies on credit facilities to undertake day-to-day trade; what exactly a breach of covenants would mean is beyond me, but I look at the SP for a clue. Lew has downramped this baby, but the facts aren't flattering. WOWSA wrote down how much on DJs? Half a billion? I don't know; guessing. Target is dust. Lee said we will see more retailers following Oroton this year. Look overseas and see which department stores have forever departed. This is real.