J crew has filed for bankruptcy. Time for vulture Investing.
BUY j crew PIK toggle bond now ahead of a restructuring
BUY j crew PIK toggle bond now ahead of a restructuring
₦90K
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J crew bankruptcy
- Thread starter Ugochukwu Okafor
- Start date
Do you think they will have enough left over to meet their debt obligations? And can they survive pass the bankruptcy?
I'm actually hoping that they won't be able to meet up with their obligations. That way they will be forced to restructure the company or liquidate. As bond holders, we have priority over shareholders and have more say over how the debt will be settled. Buying now will be cheap, you can buy at upto 60% discount to par value. You might take a haircut during restructuring or in a liquidation dividend but the discount won't be as steep as the cost of the the bankruptcy note
