The financing part is an interesting read.It is a terrible...

The financing part is an interesting read.

It is a terrible borrowing arrangement for MCL but you can't help but thinking that all the mature, accountable decision making that seems to be occurring (getting rid of the junk brands, cash management and overall simplification) is as a result of all the covenants from Pure Asset Finance.

I am still in hold for the break up mode with this as based on a few different takeover metrics this is cheap, and with Pure's covenants slowing the cash burn (albeit at a high cost) management shouldn't be able to destroy all the value before someone swallows it (or parts of it) up