Hi I am Paul Manning. I am a private investor located in Minneapolis, MN. I am a value investor and take value wherever I can find it. Most of my positions are long microcap equities.
During the Q2 2026 earnings call in August 2026, Leon’s Furniture Limited (LFL) formally disclosed that an independent appraisal valued its Canadian real estate portfolio at approximately $1.17 billion CAD
add net cash 297 mil. which should increase at ye because of seasonality and you almost get current mkt cap. the biz is almost for free
At the same time they have been dragging their feet on this for a long time. Seems that they are basically waiting for interest rates to go down and canadian real estate market to improve. Might be like 3-4 years.
During the Q2 2026 earnings call in August 2026, Leon’s Furniture Limited (LFL) formally disclosed that an independent appraisal valued its Canadian real estate portfolio at approximately $1.17 billion CAD
add net cash 297 mil. which should increase at ye because of seasonality and you almost get current mkt cap. the biz is almost for free
They do have some advantages in sourcing
Yeah it's very cheap.
At the same time they have been dragging their feet on this for a long time. Seems that they are basically waiting for interest rates to go down and canadian real estate market to improve. Might be like 3-4 years.