Things have been hectically busy the past 2 months. There has been no time to visit this website never mind still write things. So let me bring you up to speed what has been happening.
We could not find a buyer for the company and after wasting a lot of time, effort and energy with business brokers, we called off the entire process. A couple of potential buyers did show an interest, but in the end, either they did not fit into the company or had no finance to buy the company. This led to numerous meetings and discussions, revealing confidential information and we just got "gatvol" (fed up) of all this shit. We then had discussions with Martin, a good friend and employee, to possibly buy the company. We had a verbal agreement in place and the payment terms were all sorted. The lawyers were instructed to draft the purchase agreement and we slowly started let go, handing the reins over to Martin. The lawyer certainly took his time to prepare the agreement and we finally met to discuss and amend the draft agreement.
Then there was a dispute in the company which quickly became a massive issue and emotions were running high. Due to all of this and many other issues, we no longer had any desire to sell the company to Martin. Agreements were made but broken, one employee was victimised with the hell bent view of dismissal, behind the scenes pollicticking made things uncomfortable for most, situations were getting played, employees were exploited, company systems were compromised - all of this caused huge concern on our part. Considering that the purchase price were to be paid off over 40 odd months, all this commotion, upheavel, obnoxious disrespect, disregard of good business practices did not give us any confidence.
Anyway, soon after the dispute, Martin announced that he no longer wished to buy the company. This suited us perfectly but this also meant we faced a massive dilemma. We had to make a huge decision - either carry on with the company or shut it all down. If we carried on, our around the world cruise would be off for another couple of years. Shutting it all down, would mean losing substantial amounts of money let alone retrenching staff members and killing a vibrant company. In the end, we decided that our world cruise was more important to us and to rather close down the company. We met with the attorneys the very next day to start the unfortunate but inevitable liquidation process.
The attorney was not happy with this flow of events and recommended that JEFF KALINKO, a broker friend of his, contact us and at least see what he could do to salvage the situation. So we met Jeff the very next day and discussed our situation. Jeff wanted a sole mandate for a 3 month period but was told in no uncertain terms that he had a maximum or 2 to 3 weeks only. He was welcome to try and sell the company, but that we are also proceeding with liquidation proceedings. That we would run with which ever option materialized first.
The very next day, Jeff arrived with a young married couple to look at the business. They asked questions, we answered them as best we could, we chatted for about 90 minutes or so and then showed them the factory. Within days from this, Jeff announced that he had a signed written offer to purchase the business. Wow! Unbelievable! This is indeed a miracle!
Yesterday, the purchase agreement was signed and the money was paid into the lawyers trust account. Michelle and Sandro (the young couple) arrived at work today and took their rightful place as the new owners of Weizter Kitchens. From start to finish, everything was done and dusted within 9 days.
Michelle and Sandro, God bless with your new venture! Best wishes and every possible success!