So with Boots being the biggest money maker for them, I heard rumors that they were going to maybe IPO Boots? What do you think (hypothetically) the plan would be for the other two? Since these 3 would be where Sycamore can extract value from, I assume Walgreens would be fattened with debt and left to be gutted? Unless they have any aspiration of trying to save it.......
What do you guys think? Trying to understand how a PE would try to extract value with this deal.
Walgreens should just announce it is going out of business
They are looking to put lottery into the stores. We're already stregthed to the limit with putting money on cards, no sales. Filling curbside orders. Photo, FEDEX, no purchases. Trucks and stocking shelves. So much over stock. Can't get what we need. So many resets. Employees having to wait till managmemt can bag check. Employee days always before payday. No reward coupons for employees. Customers ask us about the bag checks. We tell them we aren't the ones stealing. Customers aren't d-mb, they see what is going on.
@OP I don't claim to know much about how PE works but gutting, layoffs and selling off parts of the company seem to be pretty standard. The enormous debt will be hard to service and hampers any progress toward staffing woes and technology improvements. The "More micro-managing..." post summed up issues that people who actually do the job experience but probably won't get resolved given the debt. At the end of the day, someone, other than Sycamore will be left with the debt.