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You cannot say that you were not warned here on ShareProphets, this time by the excellent Steve Moore who described AIM-listed Bagir Group (BAGR) as a avoid/sell HERE; this morning the shares were suspended as a significant proportion of the Company’s previous order book is now on hold or cancelled and the company takes insolvency advice whilst it scratches around for additional funding and the business is no longer regarded as a going concern. In short, it is bust.
Shares in self-styled “designer, creator and provider of innovative tailoring”, Bagir Group (BAGR) slumped towards 1p at the end of 2018 as the company updated including “it is taking more time than first envisaged for Shandong Ruyi to receive Chinese Government approval for its proposed $16.5 million investment into the company… 30 May 2019… new completion date has been set to provide ample time for all parties” and “Udi Cohen, Chief Financial Officer, has decided to leave the company from March 10, 2019, to pursue his other business interests”. They recovered particularly during last month but are currently slumping again on an “Update on Strategic Partnership and Trading”…
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