Author Topic: LNET - Lodgenet  (Read 9079 times)

Packer16

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Re: LNET - Lodgenet
« Reply #20 on: April 30, 2012, 09:22:15 AM »
I have given up on LNET as the guidance (based on number of rooms and EBITDA/room) was showing them hitting a loan covenent by the end of the year.  They a miracle to not hit the covenant.  Once they get past the anticipated debt restrucutre, I may take another look.

Packer


PlanMaestro

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Re: LNET - Lodgenet
« Reply #21 on: April 30, 2012, 10:29:32 AM »
Also watching Packer. It might be interesting if they manage to stop the bleeding. The core business was deteriorating too fast for my taste and debt reduction last year was too small because of their new initiatives investment.
« Last Edit: April 30, 2012, 12:52:53 PM by PlanMaestro »

zippy1

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Re: LNET - Lodgenet
« Reply #22 on: January 01, 2013, 06:22:27 AM »
I guess board members are justified in predicting this "turnaround" probably would not work out.
Quote
LodgeNet to File for Chapter 11
LodgeNet Interactive Corp. LNET -35.00%will gain access to $60 million of new capital under a prepackaged Chapter 11 bankruptcy petition that gives control of the company to investment firm Colony Capital.

The company, which provides cable television to hotels, said Colony agreed to provide the capital in exchange for all of the new LodgeNet shares outstanding once it emerges from an expedited Chapter 11 bankruptcy process.

Holders of the existing series B preferred stock and common stock will have their interests canceled and won't receive any distributions.
http://online.wsj.com/article/SB10001424127887323320404578213362859453942.html?mod=googlenews_wsj