There is a local franchise company that put a notice in the Newpaper that reads Bankrupcy Sale.
I was interested in seeing what was up in the auction. Called the handling company to set up an appointment for viewing...
Arrived on time to the location...Only to find this Franchise still up and running?
Was told by the handling company that the Franchise was defunked and the equipment that was sold to it the first time is the only items on the market. But see much more equipment that was in use for years not listed. It is under a new owner!
I like to know how they did this. Posted by Diane Crowther (Member # 120) on :
That was kinda weird. They had very little available for sale. I'd guess only the assets that were owned could be sold. Perhaps some equipment was leased which would make it the property of the lessor and not available for sale by the bankrupt company.
I wouldn't like to be the new franchisee though - opening my doors while a big ad in the newspaper announces bankruptcy of the same company name.
Posted by Michael Clanton (Member # 2419) on :
There are a couple of furniture stores around here that have had huge going out of business sales, put paper over the windows, close the doors, then in about a month, they are right back in business, same name, same stuff. One of the stores have done that at least a half a dozen times. It has become a joke around here.
Posted by Jack Davis (Member # 1408) on :
Stephen, I would assume that the new business owner, might have purchased some of the equiptment for themselves, and are just letting go, those items that they did not want, or had duplicates of.
Is the new business operating under a different name? I would assume that they would need to be..... Jack
Posted by David Harding (Member # 108) on :
I once saw a cartoon of a furniture store sign which read:
"Don't be fooled by cheap imitations. We have been going out of business longer than anyone!"
I'm still waiting for a furniture store to call me to build a masonry monument sign with a sandblasted Granite face gloriously proclaiming in 23K Gold leaf: "Going out of business!"
Who knows... it MAY happen!
Posted by KARYN BUSH (Member # 1948) on :
alot of times they change the copy to "going out for business"....so of course they aint going anywhere..except to the bank to make deposits.
Posted by Mike Pipes (Member # 1573) on :
There's a furniture store here that's been going out of business the past 4 years... they've even had the same window splash up the whole time!
Posted by Stephen Deveau (Member # 1305) on :
This one is a Sign Franchise that is operating under the same FRANCHISE NAME!
Isn't life grand..........
and the same family bought it out from one of members of the same family!
Silver Spoon in the Azz ordeal. Posted by Cam Bortz (Member # 55) on :
Sounds fishy to me... their name end in a vowel by any chance?
Posted by Ray Rheaume (Member # 3794) on :
Kinda related...
I bumped into a franchise owner while picking up supplies at a distributor's last summer and, after he got a peek at some airbrushing I'd done on my truck, he asked me if I could custom paint his motorcycle for him. He said that he had just taken over the franchise, and invited me to stop by next time I was in town. I'd never seen the place (or a franchise sign shop before), so I figured to head over in a week or so and take a peek. When I headed to the address, I realized that I had driven by it dozens of times but never had the sign out front caught my eye (I'm not being critical...it's at a VERY busy intersection with about 20 lanes and lights to pay attention to).
I stopped by a couple of more times last summer, usually around noon, only to find out they were closed, despite posted business hours. I'd assumed they were out on a job. When I finally caught the place open, he wasn't there anymore and the new owner was packing up to relocate to a smaller shop across town.
I passed by the new location yesterday and almost missed it. Their sign was buried along with 9 others in front of the strip mall.
I'd have a hard time going to an auction as mentioned above. Lord only knows who, or how many people, have been running the equipment over the years. Could be retired bullfighters for all we know!
Rapid In the heart of the White Mountains, where having a yard sale is a CAREER MOVE!
Posted by Stephen Deveau (Member # 1305) on :
Cam You hit it right on the nose. and I will give you 2 more to go with it! But please start at the beginning of the vowels.
[ July 25, 2003, 04:36 PM: Message edited by: Stephen Deveau ]
![[Confused]](confused.gif)
![[Roll Eyes]](rolleyes.gif)