PE will cash out and sell all real estate and rake in as much profit as they can.
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How do they sell what's left when they are $9 million in debt and making d-mb decisions that result in losing money, like having filling issues with Revlimid (losing $45 million)? Not getting out of the hole any time soon.
@kp Those are all subleases from closed stores.
Of course that is the goal of PE, take any and all assets out of their victims. There's plenty to snag, even at 10-15%. https://realestate.walgreens.com/
Then you should be sending an email to Mike for a layoff.
The only things left to sell are all the overpriced acquisitions Walgreens made: carecentrix, shields, villagemd, iA, boots, and whatever is left of alliance,
@a6 they own a lot less than 10-15% now. They decimated their owned portfolio as part of the sale/leasebacks over the last 5 years.
OP, I think you have the broad idea right but just not the details. There is no money in the land since Walgreens don't own most of the land. However, there are many things PE can do to extract and hollow out a company, many of which are obscure loopholes for PE specifically, which enables the PE to extract wealth while leaving a hollow shell to declare bankrupt.
@OP they only own 10-15 percent of there buildings. Not accurate.