Interesting to see where this goes. You might be right. My unrefined view is that, in any case, control of the situation is shifting more towards bond investors day by day. The financing solution is alarmingly late, and Lamor has shared nothing but vague statements about it. Of course, it is in no one’s interest to let the company go bankrupt, but that possibility strips Lamor of all its bargaining power. Personally, I believe more in a new strategic owner. If this proceeds via a new loan + share issue, the family’s control will likely disappear anyway. The company’s market cap is now €26m; a share issue is unlikely to happen at €1/share, perhaps €0.50, so for example, €10m in new capital through an issue would take away a large chunk of the company. If the rest is debt, it will be super expensive.