US: Crushpad Had Nothing Left to Spend
US: Crushpad Had Nothing Left to Spend
Aug 24, 2012 6
(Wines&Vines) - The new owners of Crushpad assumed the company’s debt and assets at an auction expecting to walk into a “hornets’ nest” of angry clients and growers. They then discovered just how much more work there would be to restructure the large custom-crush company. “There was essentially nothing,” Philip Von Burg said of the company’s balances. Von Burg and Aaron Hayos’ CastleGate Capital Advisors formed a new entity, Structured Solutions, which bought Crushpad’s assets and debts for just under $655,000 at an auction earlier this month.
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