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Birks Group Could Be The Next Bankruptcy Case From The Consumer Goods And Services Sector

Summary

Birks Group recently announced that it returned to profitability.

Given that tight floats are explosive, the stock jumped from $0.50 to approximately $3.60.

From a fundamental standpoint, things are worse than ever and the majority shareholder is not bound to provide financing.

It might be sold but it's grossly overvalued at the current price of $2.50.

If it's not acquired, it's on the verge of bankruptcy and the end game is near.

It was on July 5th when Birks Group (NYSEMKT:BGI) released its annual report with the catchy title, "Birks Group Announces a Turnaround in FY 2016", while also noting that...


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