Author Topic: SMIT - Schmitt Industries  (Read 2101 times)

A Dhandho Investor

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Re: SMIT - Schmitt Industries
« Reply #10 on: June 24, 2020, 06:09:33 AM »
Yesterday was the deadline for any objections to the sale. There were 4 objections, of which 3 were related to the assumption of store leases (the 3 out of the 10 leases that $SMIT didn't want to assume) and the other one was a license agreement.

I think it's a good strategy for $SMIT to try to renegotiate these leases since they probable have quite a lot of leverage in the context of COVID-19.

All in all, I like the set-up in this name.


OracleofCarolina

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Re: SMIT - Schmitt Industries
« Reply #11 on: July 01, 2020, 11:13:42 AM »
the bankruptcy hearing was yesterday and looks like the deal is going through for Ample Hills Creamery. It was very strange that Rosecliff(an equity holder ) put in a bid for 30% higher after the deadline, their reasoning was they were not aware of the bidding process??