Bad bear
Yes, the shares were indeed at this level in the past but that reflected investors' total disillusion with Jim French and his chums, due to a succession of profits warnings. It's significant that after the initial welcome that was given to the new management team, the recent profits warning has led to a collapse of the share price back to previous levels. If there are any more shocks/profits warnings, then I don't think the new management team will be tolerated for as long as French was.