'So if the business is great fundamentally and the main issue is with the finance source then I feel management will solve this debarcle .'
This is where I think there is a problem. Centro aggressively pursued US assets and more than half of their assets are in the US. The going has been good and they may have paid a premium for these assets. With a potential recession looming, the banks may have decided that current assets might not be worth current book value or certainly won't be in the future.
So maybe the company isn'tso great fundamentally. I'm sure the number crunchers have been through them.
It's interesting to see over the last year during their aggresive purchase plan the share price has dropped from $10 to the recent $6. Could there have been some inside selling?
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