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Anthony, this is not a first. I have seen this before. Though it is not common, I have a personal friend who owned a large profitable industrial size bakery. He sold it to a private equity firm for multi-millions of dollars. Three years later, the equity firm gave it back to him after losing millions more invested because they did not know how to run the business profitably and did not want to continue to invest more money into what for them was a sink hole. Now my friend has successfully turned the business around and it is once again throwing off cash. There are different reasons why businesses need to divest themselves of entities that clash with their objectives in one way or another, and especially if it is causing financial pain.
Crazy story. Thanks for sharing sir.
Anthony, this is not a first. I have seen this before. Though it is not common, I have a personal friend who owned a large profitable industrial size bakery. He sold it to a private equity firm for multi-millions of dollars. Three years later, the equity firm gave it back to him after losing millions more invested because they did not know how to run the business profitably and did not want to continue to invest more money into what for them was a sink hole. Now my friend has successfully turned the business around and it is once again throwing off cash. There are different reasons why businesses need to divest themselves of entities that clash with their objectives in one way or another, and especially if it is causing financial pain.
This was a great read and pumped me up. thanks brotha!
I’d love to play poker with the Penn negotiators.
Pomp and Portnoy 2028. We take this country back!
Great story! God bless America 🇺🇸!
How will Penn never "see any dollar" from Barstool sports again? Like what does that mean. He'll never make money from the company anymore?