Investment Thesis
Leon's Furniture Ltd. (TSX: LNF) (OTCPK:LEFUF) is the largest furniture and appliance retailer in Canada. It has spent the last five years deleveraging following a major acquisition. Leon's balance sheet is in robust shape and it generates healthy cash flow. The strong balance sheet and cash flow gives it various options (like share buybacks, increased dividends or acquisition opportunities) in this late stage of the business cycle.
Background
Not surprisingly, this C$1.25 Billion market cap. company is not well covered in Seeking Alpha with only one article which I