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Originally Posted by Alexjones
(Post 3863434)
Considering spirit pre bankruptcy spirit was/is majority individual share holder owned. Does any one think chapter 11 may be a temporary stop to screw the individuals out of money
before these larger bond holder take everything in a liquidation during chapter 7. |
Originally Posted by Lincoln Osiris
(Post 3863512)
BlackRock doesn't own any of Spirit Airlines' debt...
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Party City folding
https://finance.yahoo.com/news/party-city-going-business-174343913.html
hey guys, I posted this on the other thread but just really wanted to spread the word. Party City just announced they are folding after being in and out of bankruptcy. Read the news article and read some of the details about the bankruptcy and how scary some of the similarities are between Spirit and Party City. (in regards to how they are navigating the bankruptcy.) |
Originally Posted by Halon1211
(Post 3863629)
https://finance.yahoo.com/news/party-city-going-business-174343913.
html hey guys, I posted this on the other thread but just really wanted to spread the word. Party City just announced they are folding after being in and out of bankruptcy. Read the news article and read some of the details about the bankruptcy and how scary some of the similarities are between Spirit and Party City. (in regards to how they are navigating the bankruptcy.) Cherry on top - Low income consumers reduced spending listed as a factor Good luck to us. |
Originally Posted by Alexjones
(Post 3863434)
Considering spirit pre bankruptcy spirit was/is majority individual share holder owned. Does any one think chapter 11 may be a temporary stop to screw the individuals out of money
before these larger bond holder take everything in a liquidation during chapter 7. |
Originally Posted by NKSpilot
(Post 3863631)
See Big Lots too. Sale lease back a bunch of stores, Ch 11 bankruptcy, put up the $200M HQ as collateral for debt financing, supposed to swap debt for equity with creditors and get more financing, CEO cheerleading the whole time...now liquidating.
Cherry on top - Low income consumers reduced spending listed as a factor Good luck to us. If we went ch7 the lessor would have so many busted NEOs just sitting around for the next couple years. What airline would want to mess with that? Also half of our HQ is the training center, which I doubt many industries outside of the airlines would have much use for that kind of building layout. |
Originally Posted by Rhdicjkwso
(Post 3863467)
Spirit declare “BUNKRUPTCY!!!!1!” (Chapter 11) to wipe out all the people holding the stock. (Common folk)
the company is now owned by the people that hold the debt eg BlackRock and other big scary private equity. They force the chapter 11 to gain full control of the company then turn around to make big money when they sell the pieces off. In chapter 7. i think that’s what he’s trying to say. |
Originally Posted by SSlow
(Post 3863699)
I don't see this as a fair comparison. A leased building can be repurposed for pretty much anything, so the playing field is massive. What used to be a Big Lots where I live is already in the process of being turned into a gym, and this was pretty much done overnight.
If we went ch7 the lessor would have so many busted NEOs just sitting around for the next couple years. What airline would want to mess with that? Also half of our HQ is the training center, which I doubt many industries outside of the airlines would have much use for that kind of building layout. |
Originally Posted by NKSpilot
(Post 3863631)
See Big Lots too. Sale lease back a bunch of stores, Ch 11 bankruptcy, put up the $200M HQ as collateral for debt financing, supposed to swap debt for equity with creditors and get more financing, CEO cheerleading the whole time...now liquidating.
Cherry on top - Low income consumers reduced spending listed as a factor Good luck to us. |
Originally Posted by NKSpilot
(Post 3863631)
See Big Lots too. Sale lease back a bunch of stores, Ch 11 bankruptcy, put up the $200M HQ as collateral for debt financing, supposed to swap debt for equity with creditors and get more financing, CEO cheerleading the whole time...now liquidating.
Cherry on top - Low income consumers reduced spending listed as a factor Good luck to us. alienate your customer base and that’s what happens. seems like spirit is on the same path. |
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