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Originally Posted by bugeater
Once again - don't assume that because a former owner did really well out of selling a company which eventually failed, that they are somehow responsible. What did they do that made the company fail?
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Well, a pretty good start would be the former owners tweaking the books hard at the beginning, running the inventory down at likely a real loss but for a paper profit and then selling the business for a huge price tag, leaving the buyers with a very expensive business which suddenly turned out not have anything much to sell nor the profitability that was stated.
Buyer beware of course, what kind of business people spend half a billion dollars to buy out a "suddenly profitable" business that the sellers bought as a basket case quite recently for a song without looking a little deeper than next years projections? "Due dilligence" would seem to be a foreign concept.
The business may well have been terminal (And quite possibly was) beforehand, and what Anchorage did may well prove to be legal but it does not make what they did right.