Can retail billionaire Solly Lew save Myer?
Myers survival in its current form must overtake all other concerns and become the main focus for all who have a stake in the outcome. Whether its largest shareholder and second-largest supplier, Lew’s Premier Investments, wins the battle to control its board is of secondary importance.
Myer has hundreds of millions of dollars in landlord lease liabilities that are increasingly difficult to carry when sales and profits are in free fall. Thus the department store chain is staring down the barrel of an existential moment if it remains on its cu…
Read the full article at: http://www.smh.com.au/business/retail/existential-crisis-even-solly-lew-will-struggle-to-save-myer-20180214-p4z0ad.html
