Flooring company Victoria plc (VCP) has issued an “AGM Statement” including that its “UK business continues to perform strongly” and that it “will assess any opportunities that may consequently arise” from Headlam’s announcement of its intention to appoint administrators. What then about a current share price response more than 3% lower to 56p?
Liverpool’s Greatest numbers man since Ken Dodd, Evil Banksta admits that yesterday’s news from carpets roll up Victoria (VCP) is good news. The shares are still overvalued but it is not necessarily a short. Echoing my thoughts in bearcast, Mr Banksta explains:
My man in the world of floor coverings has been in touch about the two drunks sprawling on the floor of the carpets lounge: Headlam (HEAD) and Victoria (VCP). Both are drowning in debt and liabilities and neither seems able to generate cash. So, what to do?
There has been a brief halt in the relentless slide in the share price of drowning in debt Victoria (VCP) with news that NED Gavin Petken and his Mrs., Lorraine, have splashed out just a smidgeon over fifty grand on buying shares at 26.9p. Gavin and Lorraine have taken one for the team. But have they?
Could this be the year when the downing in debt carpets roll-up play Victoria (VCP) finally vindicates we perma bears and disappears altogether? The shares are now just 34.95p.
You can short carpets roll out Victoria (VCP) with the shares still above 60p and you should. The market cap of over £70 million is dwarfed by debt and its accounts show it will be consumed by debt.







