I'm not surprised. The day Ken died, the it was the beginning of the end for his brand. Hoonigan as a brand was sold in 2021, and it's 1.2 billion in debt
Ken Block's brand was acquired by private equity in September 2021, then rolled into an aftermarket wheel company. Now, it's filing for Chapter 11.
EVERY thing that gets bought by a private equity , gets destroyed. PE has been destroying trucking companies for year, PE bought and destroyed Red Lobster , and now they are buying small veterinarian clinics and small HVAC businesses. and destroying them, a company called Vertical Scope does it with websites, they buy a website and somehow manage to do a cash grab for alot more money than they paid for the site by destroying it.
if a private equity firm buys the place where you work, you better start looking for a new job somewhere else,
EVERY thing that gets bought by a private equity , gets destroyed. PE has been destroying trucking companies for year, PE bought and destroyed Red Lobster , and now they are buying small veterinarian clinics and small HVAC businesses.
ReplyDeleteand destroying them, a company called Vertical Scope does it with websites, they buy a website and somehow manage to do a cash grab for alot more money than they paid for the site by destroying it.
if a private equity firm buys the place where you work, you better start looking for a new job somewhere else,