Clearly impacting share price since article appeared in the Australian on Wednesday. There is information asymmetry circling around this matter and needs immediate clarification. Risk of breach of ASX and Corporations Act disclosure rules.
The article suggests risk that appointment indicative of stress, whilst also suggesting FTI may be engaged to assist with store closure and rental renegotiation program rather than anything more ominous.
The Chair Anne McDonald made some very clear statements on the financial position and strategy two weeks ago, no suggestions or signs financial condition not manageable.
Separately, visited several Millers and Katies stores today, along with one City Chic and an Autograph. Latter were not bustling, however two former had quite brisk trade; Millers (sale nothing over $20) were busy in both stores, staff at both the Millers and Katies stores confirming same in respect of recent weeks trade.
