Comments This is probably just as bad as a downgrade from...

Comments

This is probably just as bad as a downgrade from SPO...why are they selling the laundries biz (their most profitable segment/only good biz)? This is telling the mkt CF conversion has been horrendous again and the balance sheet is under a lot of stress, and probably also that their bankers are well aware of it and want something done. Additionally explains why company have been so quiet - because they've been debating banking syndicate (and probably the board) over this or a rights issue. Takeover also off the cards for now. It will open up but should close down or flat