Hoonigan gone bust

[hot66]

Private equity destroy a brand ! That is a lot of money for a group to go bust with ! Some other big brands in there too.

https://www.theautopian.com/private-equ ... pens-next/

[964RS]

Hoonigan died when Ken died. He was the brand. Surprised it had any value at all after that and suspect everyone knew its days were nigh....

The main part of the $1.75bn is all the other automotive companies under Wheel Pros and its probably all been deliberate to write off large amounts of debt after emptying all the profits out of them....

[misteralz]

Standard vulture capital operating model - buy business, saddle it with debt that you conveniently own, declare bankruptcy, toddle off to find your next victim.
Mental some of the names that are going down with the ship, mind you.

[sladey]

I’ve seen that model on Goodfellas…