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0 pointsElectricniko29d ago0 comments

It sounds like corporate took away ownership and gave it to a new franchisee.

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4 comments · 1 top-level

mcv29d ago· 3 in thread

The original franchisee claims to have lost their life savings in that move. I have no idea how exactly that happened. Their story really sounds like something from Russia back when western investors had their company simply taken from them by someone well-connected.

sgerenser29d ago

It sounds like the original franchisee doesn’t want to admit that they were losing a lot of money already. Only someone really desperate would take on a $200K lego collection and only collect a 10% consignment fee. It would also explain the corporate “takeover” if they were already behind on paying their franchise fees or whatever they might have owed to corporate.

That being said, it’s not illegal to be a bad business person, and none of that excuses the subsequent behavior by BAM corporate or the new franchise owner.

plorg29d ago

* The store's consignment fee was 35%

* They had sold about half of the consigned inventory

* The old franchise owner said they had a job offer outside the country

* Said franchise owner was current on a restructured fee schedule that, they allege, was the direct result of corporate bungling the transfer of accounts from the franchise owner previous to them

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mcv29d ago

From what I understand, the original franchisee wanted to sell the store because they wanted to leave the US (for "political reasons"; I suspect they don't want to live in Trumpland anymore, but that's pure speculation). The way it appears, the moment they announced that desire to sell, B&M corporate showed up to take control of the shop. And the consignment.

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