Pendragon Shares under 1 1/2p! How will this play out?

[cccscotland]

Pendragon - Reg Vardy, CD Bramall, Stratstones, Evans Halshaw - shares have dropped to under 1 1/2p from £1.25 last year.

Given they have debts of £80m that lenders may want back, over 300 dealerships, and god knows how many second hand cars, what do you guys think will happen and when?

Will the banks force them into liquidation and send all the cars to BCA? How do you think this could affect the second-hand car market as all their stock gets put in a fire sale?

[cccscotland]

haworthlloyd1 said:

good question but i'm sure you already know the answer

Ish. If the banks let them go, then there will be even more carnage. But, will the banks let this happen? Are there any suitors who may rescue bits of it? If it did happen, how quickly would the cars get sent off to auction?

I'm tempted to buy a DB9, but I note that Stratstones have 30 of them. If these get sent to auction in the next 6 months I suspect I'd regret it if I'd bought one now!

[cccscotland]

Plug550 said:

Why? Thought you'd just bought a 550.

www.cccscotland.com - I've worked out that now is a good time to upgrade my fleet, so as well as the 550 (which has been branded a good 'un by my local specialist) I'm in the market for a DB9, a 996 Turbo, and a Tuscan/Tamora as well as a couple of other bits and pieces. That's also why I'm very price sensitive! 2009 may be a good year for us..... Here's hoping.

Edited to try and make hyperlink work...

Edited by cccscotland on Friday 19th December 17:04

[cccscotland]

dibbly_dobbler said:

cccscotland said:

Plug550 said:

Why? Thought you'd just bought a 550.

www.cccscotland.com - I've worked out that now is a good time to upgrade my fleet, so as well as the 550 (which has been branded a good 'un by my local specialist) I'm in the market for a DB9, a 996 Turbo, and a Tuscan/Tamora as well as a couple of other bits and pieces. That's also why I'm very price sensitive! 2009 may be a good year for us..... Here's hoping.

Edited to try and make hyperlink work...

Edited by cccscotland on Friday 19th December 17:04

Is this it ?

1/10 for interweb skills

Actually when the post was written cccscotland.com was correct, but subsequently I'm having problems with my host so for the time being that page is out of action...