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Unbound Group – another case of “Strategic Review and Formal Sale Process” being code for ‘we’re fecked’?

By Steve Moore | Friday 19 May 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on Hotter Shoes brand footwear group Unbound (UBG), last week I wrote my prior scepticism vindicated?; after possible offer not proceeding now also funding proposal “withdrawn”! – concluding with the shares slumping to 3.25p, towards a £2 million market cap, hopefully my prior warnings were heeded and still one for the Bargepole. Hopefully that was heeded as today a “Strategic Review and Formal Sale Process”-titled announcement from the group. With the shares currently responding further down to 2.5p, is this announcement indeed code for ‘we’re fecked’ as such announcements often are?

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