Deepnight – as you say yourself, they’re working on survival and why forward book with a company that’s even talking of survival when there are plenty of others out there. The only reason would be price, and that leads to other problems.
TCX will survive in one shape or another, as it’s still a great brand but the group will look very different to today.
The concern is that the investors and bankers did allow the Group to get one month away from running out of cash, so I’d take little comfort from what they allow nor not! Equally, most Boards are great on big picture strategy but haven’t got a clue what’s going on operationally and I doubt they have the real-time information required to help with any short-term decision making anyway.
This is another group that has been knackered by bad acquisitions and a board disjointed from reality.