Oriflame - comment

Just after writing that this should take a little longer, we are hearing that the company have already retained Rothschilds and rumour has it that bonds have retained Moelis? Please let us know if you have further detail. Oriflame did seem to have enough liquidity headroom to trade through next year, in which case an approach to bondholders would have seemed unlikely over the summer. We are surprised that advisors have been appointed this early.