PDA

View Full Version : Spin Cycle sold

Rondo
08-12-2003, 12:44 AM
http://phoenix.bizjournals.com/phoenix/stories/2003/08/04/daily56.html
Anonymous
08-12-2003, 01:28 AM
http://www.pwslaundry.com/spin_cycle.htm


i wonder if they are going to chop it up and sell off.
cesar
08-12-2003, 03:15 AM
The guy who started franchising the Spin Cycle stores used to work for PWS and I guess they bailed him out by buying Spin Cycle and then they gave him a job back at PWS. I can't remember if it was Chris Lombardi or what his name was, but he got a sweet deal. I don't know how anyone made out who bought into a Spin Cycle franchise.
BWJR
08-12-2003, 11:01 AM
I feel bad for all the small Mom and Pop Laundries that got hurt by this company. Because of the arrogance of a few men that didn't care one bit about the Laundry business. All they did was sucker in a lot of investors and use their money to give themselves big salaries and big bonuses every year. I followed the company real close, because they had plans to move right across the street from one of my stores. It was a long story but thank God they didn't. They have left their foot print in many areas and have put a lot of owners out of business. I believe they will break the company and sell off to individual investors, possibly closing some of the losers and bad areas. In any event the top executives will make out pretty well. The investors and many of the low level employees will get nothing but a tax write off or a pink slip. Cooperation's do not belong in this business and any Company like Alliance (Speed Queen), who helped with low pricing and zero interest loans, well you make the call.

BWJR
Kitty
08-14-2003, 07:41 AM
Isn't PWS the unscrupulous broker we have read about?
IvQ
08-24-2003, 12:47 PM
I opened up my real estate section of the paper today and under business opportunities I see fairly large Spin Cycle ad stating 10 mats in MD/DC area for sale. POC is Bill Corley. I just might give a call next week.......

Q
Goff
08-24-2003, 04:09 PM
IvQ -

does it give a number to call? I am not interested in any on the east coast, but I would like to call and see if they will tell me if they will be selling off any SC's here in NM.

Scott
IvQ
08-24-2003, 04:38 PM
The number is 866-797-4356
BWJR
08-24-2003, 06:22 PM
Keep us informed on the details. Price, terms, financing, volume, etc.

BWJR