Bonmarche – offer acceptances reached mean it’s de-listing ahoy!

Edinburgh Woollen Mill Group owner Philip Day’s Spectre Holdings has updated on Bonmarché (BON) – including of “valid acceptances under the offer, in respect of a total of 46,524,803 Bonmarché shares, representing approximately 93.0 per cent. of the existing issued ordinary share capital of Bonmarché”…

Bonmarche – from offer “materially undervalues… reject” to that it is “fair and reasonable… accept” in less than 2 months!

Last month, on an 11.445p per share mandatory - having acquired a 52.4% shareholding - offer for Bonmarché (BON) from Edinburgh Woollen Mill Group owner Philip Day’s Spectre Holdings, I questioned offer “unattractive when compared to the shareholder value that the… directors aim to create”. Now from Bonmarche “Update and change in recommendation”…

Bonmarche (#BON) – Q1 trading “poor”… now of the view that the offer on the table is “fair and reasonable”

Bonmarche – majority shareholder offeror to “take a step back”… but will a return to profitability be delivered?

Majority shareholder and offeror for women's clothing and accessories retailer Bonmarche (BON), Edinburgh Woollen Mill Group owner Philip Day’s Spectre Holdings, has updated that it “will now take a step back and see if the Bonmarché board can deliver on the plans and strategy it has set out”. Hmmm…

Bonmarche – offer “unattractive when compared to the shareholder value that the… directors aim to create”. Hmmm…

Last month I wrote on women's clothing and accessories retailer Bonmarche (BON) cash offer, so was I wrong?.... It has now issued an offer response circular…

Bonmarche (#BON) – considers 11.445p per share offer “materially undervalues Bonmarché and its future prospects”

Bonmarche – cash offer, so was I wrong?...

Last month I concluded on women's clothing and accessories retailer Bonmarche (BON) that its bank facility “expected to be sufficient to meet liquidity requirements” in conjunction with the noted severe trading deterioration in just a matter of months continues to make this uninvestable to me. Avoid / sell. Today a cash offer for the company from Edinburgh Woollen Mill owner Philip Day (via Spectre Holdings Limited). So was I wrong?...

Bonmarche (#BON) – 11.445p per share mandatory cash offer from Philip Day’s Spectre Holdings

Bonmarche – update includes “sales since Christmas had been slightly above the level required” & “bank facility is expected to be sufficient” BUT…

Previously writing in December on women's clothing and accessories retailer Bonmarche (BON) it was “extremely poor” sales, though argues “confident in the strategy” & “well prepared to weather the storm”. Really?. Today a further “Trading Update”…

Bonmarche (#BON) – ANOTHER profit warning; “trading since the beginning of March has been significantly weaker”

Bonmarche (#BON) – Q3 sales -8.1%, stores LFL -11.1%, though reckons “remains confident in Bonmarché's prospects and strategy”!

Bonmarche – “extremely poor” sales, though argues “confident in the strategy” & “well prepared to weather the storm”. Really?

A “Trading Update” from womenswear retailer Bonmarche notes its “forecast assumed that demand would broadly follow the pattern experienced last year when, during the earlier part of November, customers delayed purchases in anticipation of being able to take advantage of Black Friday discounts. However,”... Uh oh…

Bonmarche (#BON) – Black Friday week sales “extremely poor” & “not recovered since”

Bonmarche (#BON) – profit warning due to store sales below expectations

Bonmarche (#BON) – Q1 sales +2.7%, lowers earnings cover range for dividend

Bonmarche (#BON) – FY adj. EPS +30%, DPS +8.5%, current trading “in line”

Bonmarche (#BON) – FY “in line with the board's expectations”, market “difficult”

Bonmarche (#BON) – Q3 sales -5.5%, FY profit expectation “remains unchanged”

Bonmarche (#BON) – Q1 improvement in trading, FY expectations “unchanged”

Bonmarche (#BON) – continuing “challenging” trading conditions, though reckons can deliver growth in now current year