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Non-Tech : Boston Market (BOSTQ)
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To: paul goldstein who wrote (1294)5/31/1998 6:31:00 PM
From: PaperChase  Read Replies (1) of 1567
 
Paul. I think you are glossing over BOST's financial condition and are avoiding plain logic. Have you looked at BOST cash flow from operations this quarter versus their remaining cash and lack of borrowing capacity? Another repeat of lousy sales this quarter and its over. You have to remember that BOST won't wait for every last drop of cash to be gone before filing BK. They will need to have some cash around to cope with future dreary quarters during their restructure.

In the case of BOST, there is a lot to be gained from filing bankruptcy like renegotiating leases and closing lousy restaurant locations. For a recent example of an investor's downside while being a "bankruptcy gambler", see Mercury Finance (MFN) and its new symbol MFNNQ.

I don't own either MFN or BOST. I just get concerned when I see people who claim to have looked at the numbers and assert that BOST will survive. The good doctor now running BOST was called to the hospital too late to save the patient.

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