Quote:
Originally Posted by TRZ06
Quote:
Originally Posted by The__J__Factor
Quote:
Originally Posted by TRZ06
Yep. Basically off loading a business in the red heading for bankruptcy.
Restarting with no debt.
Shitty practices and I have no respect for it
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You don't think the buyers would have seen the books and then agreed on a price that suited their evaluation?
The Dinan name and bmw connection is valuable in itself and obviously the buyers thought they could continue/improve/grow the business they were buying.
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And how many vendors got shafted and had to take a loss in bad debt??
It's a shitty practice.
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Quote:
Originally Posted by TRZ06
Quote:
Originally Posted by The__J__Factor
Quote:
Originally Posted by TRZ06
Yep. Basically off loading a business in the red heading for bankruptcy.
Restarting with no debt.
Shitty practices and I have no respect for it
|
You don't think the buyers would have seen the books and then agreed on a price that suited their evaluation?
The Dinan name and bmw connection is valuable in itself and obviously the buyers thought they could continue/improve/grow the business they were buying.
|
And how many vendors got shafted and had to take a loss in bad debt??
It's a shitty practice.
|
Presumably if the company sold is still trading then those vendor's contracts are being honoured and therefore no one got shafted.