$ASNA Dress Barn deal with landlords done and been

$ASNA Dress Barn deal with landlords done and been done a while.

Heavy NYC short, helped take down a lot of retail, chatting with a comrade a month or so back, I have confirmed it.

Found totally by accident as he never mentions ticker symbol just the lenders symbols. Worth catching a piece on a dip, very good terms, and excellent time to liquidate, couldn't ask for better and then to walk away unscathed.


Donut Shorts
@DonutShorts
·
Aug 2

From the BBG distressed debt chat on Wed. Comments from $SKT and $CBL on Thursday confirm this.

https://twitter.com/DonutShorts/status/115730...61/photo/1

Roger Atlas
@RogerAtlas2
·Aug 2

Does this mean they are not going along with the closure at all? Or that they chose to allow them to get out of the lease at year end instead of taking the higher lease breakage payment to have occupancy?

Donut Shorts
@DonutShorts
·
Aug 2
Replying to
@RogerAtlas2

The latter

Roger Atlas
@RogerAtlas2

Replying to
@DonutShorts

Got it. So lower lease expense for $ASNA (compared to paying a breakage fee), but higher losses on Dressbarn for longer.

11:41 AM · Aug 2, 2019·Twitter Web App

Donut Shorts
@DonutShorts
·Aug 2
Replying to
@RogerAtlas2

They are shutting Dress Barn down. Presumably whatever lease concessions they got for staying open offset whatever they are losing from an operating basis.

Roger Atlas
@RogerAtlas2
·
Aug 2
Yeah, we'll see. Admittedly, this is better than I thought they would be able to achieve.