Summary

Massive guidance reduction after highly disappointing holiday season.

On Monday, retail-focused credit analysis firm Pulse Ratings downgraded the company's credit rating citing a "meaningful deterioration in vendor payment trends"

According to Debtwire, company has hired advisors to "assist in refinancing the company's bank debt" which, in my opinion, could very well mean "debt restructuring".

Investors should move to the sidelines as equityholders might very well end up with nothing here.