Ames Department Stores (AMES) Message Board

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Microcap & Penny Stocks : Ames Department Stores (AMES)

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To: Dan Duchardt who wrote (1890)	8/21/2001 7:36:21 AM
From: Arthur Tang	Read Replies (1) of 1911

Ettore is an experienced bankruptcy reorganization expert, last time did not leave anything for the stockholders. Knows enough trustees to buy bankruptcy stores until bankruptcy court people asked for big money from him(1996-1997). The manufacturers always try to get their money back fast. AMES can not afford to release their cash. They will pay cash on delivery on the new shipments if necessary. In the mean time, liquidation will give them more cash. AMES had only 300 vendors after the last bankruptcy, then developed substantial vendors after I wrote about the need of more vendors to run a better business here. They should have gotten 3000 other vendors, when Walmart has 12,000 plus vendors already. Consultants don't harp on the critical issues, the management has to follow them by heart. But then Ettore is just a bankruptcy expert, so it is an easy way out, to do it again. There probably will not be another time for Ettore, 2 time loser is enough for anyone. Third time the court will force a liquidation, chapter 7.

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