The common shares shouldnt be cancelled for quite awhile, but we will probably know their fate once a DS (disclosure statement) is put out in the coming months. Without an equity committee, I am not sure if they stand a chance if Tengelmann writes their investment off.
That said, the pps looks pretty bottomed down here for a bounce trade, the volume has been declining with it holding around the .16 area. I've got it on my watch to bank some freebies. :-)
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