So on first thoughts one might think, SHP is doomed and with $23 million cash TPW will tough it out. That may very well eventuate.
Equally though TPW management have a buffer of $23 million cash and also run an unprofitable chain of retail outlets - will they work as hard to keep the company afloat (and their jobs) and turn things around as SHP management will?
These guys have a lot more on the line!
Ann: Publication of Research Report by Patersons, page-47
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