In all seriousness, Myer is starting to head into Dick Smith...

In all seriousness, Myer is starting to head into Dick Smith territory. I am not saying they are Dick Smith but similar traits and patterns are emerging -> Sales have deteriorated significantly, lumpy working capital (mainly costly inventory which is being marked down), huge intangible value on the balance sheet that needs to written down and lease repayments are huge and debt covenant issues (all issues Dick Smith had). Hint hint, nudge nudge, a debt covenant will probably be breached resulting in some action by the lender. If a covenant is breached, watch the instos head for the exit and a severe drop in share price.

Check out this article for similarities to Dick Smith:
http://www.smh.com.au/business/comm...-dick-smith-shareholders-20160104-glyzmf.html