Ellies begins Section 189 restructuring - promises to "minimise possible retrenchments"

[B-1]

They cry poverty and in the next sentence entice the market to punt thier share in view of so called acquisitions

Sales has always been Ellies strength

Their best sales people have up and left at National level

Down below the restructuring has been in view of sales teams and replaced with third party marketing teams WHICH ACTUALLY MEANS GLORIFIED SHELF PACKERS

The next section 189 which will be performed early next year targets distribution ie warehousing staff

Bare in mind Wayne Samson the former CEO was bombed for introducing third party warehousing

Only form Ellies to take up this option now

These guys have no idea wether they coming or going

I believe we are on the same page. You are saying they have a lot of problems and restructuring the business to focus on their core markets plus acquiring some other businesses to enter into new market segments so they can expand will be good for the business.

 

[Paul Williams]

No I think you’re trying to establish a positive spin

There is none

They’re effectively running out of options

The strategy is nothing new it’s a merry go round

3/4 years ago the performed a section 189

They ve just performed another one

And a third one is tabled first quarter next year

They do not have the funding to buy out businesses

Secondly the strategy to move out of retail is to drastic and will sink the ship

Procurement is Ellies biggest draw back

On par with that is marketing and being up to speed with competitors

Ellies have fallen off so bad in recent years

Multiple delistings in key categories in major retailers have left them realing

They dont even have a fully functioning online store yet are supposed to be a leading technology company

So instead of correcting the short falls they walking away from turnover they can I’ll afford to by way of major retail

This so called solar strategy is one Ellies put forward to the debtors years ago

Ellies moved into solar over 5 years and literally have achieved nothing

They always to expense and always behind the curve

They literally allow competition to get a move on them because the way the business is set up is procurement and senior level execs can’t make decisive decisions

They can’t see past their egos to come in agreement on anything

Then make knee jerk reactions which leads to lost opportunity

Just look at thier lack stock renewable at perk Eskom crisis it tells you everything you need to know

And it goes beyond that I can tell that for the majority of this year across multiple skus they have been short supplying key retailers to the degree the retailers are holding them accountable to non supply

And mean to tell me the business is sound from a cash flow perspective that they can afford acquisitions

Either that got some Saudi king coming in with some oil money or someone at Ellies decide to attempt to prop up the share in view the terrible results they just posted last week

And trust me the numbers they sitting on currently in the next financial are even worse

 

[Paul Williams]

Sorry for the Grim outlook

But that’s the just

That place is unfortunately not what it once was

It atmosphere is not one that’s set to thrive anytime soon

The best people have left and to turn this around

The top management need a long good honest look in the mirror

They need to take out those knives out of each others backs

And unite

Some serious amount of integrity needs to be brought back into the business or

ITS OVER

 

[backstreetboy]

Sorry for the Grim outlook

But that’s the just

That place is unfortunately not what it once was

It atmosphere is not one that’s set to thrive anytime soon

The best people have left and to turn this around

The top management need a long good honest look in the mirror

They need to take out those knives out of each others backs

And unite

Some serious amount of integrity needs to be brought back into the business or

ITS OVER

MyBB deleting my posts nice.
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