But Wait, There’s Not More!
After nearly 50 years of selling items like the Veg-O-Matic, Popeil Pocket Fisherman, Mr. Microphone, and Inside-The-Shell Egg Scrambler, Ronco Corp. has filed for bankruptcy. They say they’re not going out of business and have a potential buyer. How much, you ask? Ron Popeil sold the company to a holding company in 2005 for $40 million in cash and a $16 million note. But wait, there’s more! The company now owes more than $32.7 million and has only $13.9 million in assets. Now how much would you pay? Find out on the next court date, June 19.
Category: Uncategorized Comment »