my experience with compass

Compass paid approx $28 mill for the Albion and Gosnalls Hotels...the Albion portion was $15m....around 3 years previous to the sale Ogden was offered $7m for the Albion by another buyer...This was around market price but Geof Ogden held out for around $9m.
If i use this as a rule of thumb they paid around (at least)40% above actual value for pubs across the board....I know pubs where knocking on their door at the end to sell as they realised the inflated prices being paid was a once in a lifetime deal.
Compass managemnt was little more than Duty manager grade at best with no plan to maximise possible buying power deals etc....really no plan at all.
I have followed their demise throughout and fully expected the downward spiral......BUT i now believe they have an actual operator in place to run their pubs....having paid approx $223 mill for the 14 properties (I believe they offloaded the markets) could it be now that the debt to the banks is equal to or greater than the assets and the banks are calling their money back in...this would explain the latest drop....otherwise this would be a good stock to hold long term thru natural capital growth.
Has this been discussed previous
Any comments

Broobar