Serious PAP darling Breadtalk defaults $100m debt. Even MPs stay away..

[SalahParking]

https://www.google.com/amp/s/www.bu...o-waive-technical-default-for-s100m-notes?amp
MAR 19, 2020 12:16 PM
BREADTALK Group has launched a consent solicitation exercise (CSE) to get noteholders' approval to waive a technical default for S$100 million 4 per cent fixed-rate notes due 2023, the company said on Wednesday.
The food and beverage player is seeking to waive breaches of the consolidated tangible net worth covenant and the consolidated total borrowings to consolidated tangible net worth covenant.
Additionally, the exercise seeks to lower the thresholds of the covenants - consolidated tangible net worth will not be less than S$50 million while the consolidated total borrowings to consolidated tangible net worth will not exceed a 3.5:1 ratio from the quarter ending June 30, 2021.

 

[SalahParking]

I could not give up a good deal today. 7 breads for $10 at closing. Tip: Get their Chocolate dipped coissant.

 

[Kee Chew]

George is a very Lucky chap.

 

[eatshitndie]

how about changing its name to breakwalk(away)?

 

[SalahParking]

Same with other PAP Darlings, Hyfucks, Suckit Sushit, BreadDog

 

[laksaboy]

Maybe George Quek will close some of his shops in the worse locations.

He is not focused, do a bit of ramen, a bit of Teochew pastries, a bit of bakery, a bit of bubble tea, a bit of kopitiam cuisine, a bit of xiaolongbao. Focus on what really matters.

 

[laksaboy]

George is a very Lucky chap.

Perhaps he is coming to the end of his 10-year luck cycle.

 

[SalahParking]

They also do Food Court

 

[syed putra]

Don't worry. I am sure there will be buyers once it's under bank administration. Most probably like hyflux, from one of our neighbours.

 

[CPTMiller]

Maybe George Quek will close some of his shops in the worse locations.

He is not focused, do a bit of ramen, a bit of Teochew pastries, a bit of bakery, a bit of bubble tea, a bit of kopitiam cuisine, a bit of xiaolongbao. Focus on what really matters.

Bro.
Quek has no choice.
His original core business is failing and he cannot revive it.
So best alternative is diversify to other F&b types.
But it is not easy.
So shares price keep dropping and i am sure a lots of question target his management team

 

[SalahParking]

They also have Tau siah pianhg, cant remember the name. Fucking Expensive

 

[laksaboy]

They also have Tau siah pianhg, cant remember the name. Fucking Expensive

https://www.thyemohchan.com/

Teochew pastries.

 

[Pinkieslut]

What happened? Thought his Ding Tai Fung always packed, and his high SES bakeries Huat Huat Huat?

how come Sinkie retail doing so badly despite the Cuntry flooded with highly paid FTs making up 1/3 of the population?

 

[whoami]

Same with other PAP Darlings, Hyfucks, Suckit Sushit, BreadDog

Will Sheng Song be next?

 

[laksaboy]

What happened? Thought his Ding Tai Fung always packed, and his high SES bakeries Huat Huat Huat?

how come Sinkie retail doing so badly despite the Cuntry flooded with highly paid FTs making up 1/3 of the population?

Less customers due to the corona and they get raped by the rent.

 

[zeebjii]

Bro.
Quek has no choice.
His original core business is failing and he cannot revive it.
So best alternative is diversify to other F&b types.
But it is not easy.
So shares price keep dropping and i am sure a lots of question target his management team

He just got too greedy and expanded too much. Cannot be satisfied with 20 breadtalk/toastbox, 3 DTF restaurants and 2 foodcourts? Why must keep growing rapidly every year? Why must go china and get raped? The icing on the cake is the ridiculously overpriced taiwan bread. Sinkies are suckers, but this is just going too far.

 

[Pinkieslut]

He just got too greedy and expanded too much. Cannot be satisfied with 20 breadtalk/toastbox, 3 DTF restaurants and 2 foodcourts? Why must keep growing rapidly every year? Why must go china and get raped? The icing on the cake is the ridiculously overpriced taiwan bread. Sinkies are suckers, but this is just going too far.

He like many local towkays were betting on hordes of highly paid FTs. Sinkies can only pay for Low SES stuff.

 

[SalahParking]

Will Sheng Song be next?

good question. the answer is NO. How I Know?

 

[CPTMiller]

He just got too greedy and expanded too much. Cannot be satisfied with 20 breadtalk/toastbox, 3 DTF restaurants and 2 foodcourts? Why must keep growing rapidly every year? Why must go china and get raped? The icing on the cake is the ridiculously overpriced taiwan bread. Sinkies are suckers, but this is just going too far.

Do you know the demand after you listed the shares?

 

[zeebjii]

Do you know the demand after you listed the shares?

So, what's the demand?

And, why list then?

There are many many well-run and profitable sinkie companies that are not listed.