Sorry to disappoint, but the Lazydays bankruptcy had zero impact on Don Wallace and his family. Don started divesting his LD ownership back in the 90's by turning it into an ESOP and sold a large stake to the employees. Then he brokered a deal in '05 or '06 to sell LD to a private equity group and made many employees into millionaires. He retained a 10% ownership position but had nothing to do with operations in the last few years. The bankruptcy was driven by the interest payments due on the debt associated with the buyout which occurred at the top of the market.
We were at LD last week and the place was very crowded. The service bays were full and the "delivery lots" were busy. Rally Park was also full. It certainly appears that business is returning.
Steve O
__________________
Steve Ownby
Full time since 2007
2003 Monaco Signature
|