I think is was dumb for DAB to go after the (9) locations. I think this could back fire on them. DAB looks as if it is coming out of a hard time and the numbers are not all that great but they did get better and I think Jillians can pull them down. IMHO
agreed. i'm not impressed with how D&B is run. what makes anyone think they can fix a mess like jillian's?
and i wonder about the cfo of jillians comment that the $40MM in bank debt necessitated the bankruptcy filing, that they were profitable. i have hear about vendors not being paid for a while now. seems like if you're profitable, your vendors would have been paid, and the bank would either term out the loan or extend the maturity date. i'm guessing here - i don't know anything.
It is unusual, but I looked at the BK filing, the company that is acquiring the locations is an arm's length entity that D&B will own part of, the rest is owned by what appears to be a fund. So D&B will more likely manage these locations, and essentially own their competition. No real D&B money is being spent from what I see.
But, this still has to go to auction, so it is anyone's guess what the final outcome would be...