Its time this company woke up well and truly and shook themselves into the real world.
The Warehouse Group Ltd [WHS.NZX] is currently worth about $745 million dollars, some $250m less than when we last visited this on March 12.
At this rate the share price will collapse once it reaches that important psychological $2 mark.
Its not looking good for their next result in September and going out and selling their Newmarket property is just the last bastion to ward of the creditors.
Those at head office must be nervous - about what to sell next and about the reality of their situation that nobody wants to shop there and certainly nobody wants to invest in it.
No, not even those that own Farmers are interested anymore (at current prices) and are probably waiting for a spectacular collapse as we move closer to the September result.
I await with interest!
The Warehouse Group @ Share Investor
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