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      03-11-2018, 01:57 PM   #61
Stash21
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Drives: 2019 M5C
Join Date: Apr 2013
Location: North Wales.

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Quote:
Originally Posted by TRZ06 View Post
Quote:
Originally Posted by The__J__Factor View Post
Quote:
Originally Posted by TRZ06 View Post
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.
Quote:
Originally Posted by TRZ06 View Post
Quote:
Originally Posted by The__J__Factor View Post
Quote:
Originally Posted by TRZ06 View Post
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.
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