
Unfortunately Uncle Nearest is in receivership as the founders/owners have mismanaged the financial side of the business probably beyond repair...the brand had everything going for it, a connection to Jack Daniels, a booming bourbon market, and founders who seemed to be dedicated to success...somewhere along the way the wheels came off...borrowed capital was used for personal lifestyle, fingers were pointed inside the company, and other questionable acts prompted creditors to call in their loans...a third party was appointed to run the company, investigate assets and liabilities, and determine if the company is salvageable...finding a buyer in a down bourbon market for a business in deep debt won't be easy...hopefully someone will take a chance and keep it going.
I recently heard about the companies fall from grace. I guess hubris got the best of Fawn Weaver as she was fired in June.Unfortunately Uncle Nearest is in receivership as the founders/owners have mismanaged the financial side of the business probably beyond repair...the brand had everything going for it, a connection to Jack Daniels, a booming bourbon market, and founders who seemed to be dedicated to success...somewhere along the way the wheels came off...borrowed capital was used for personal lifestyle, fingers were pointed inside the company, and other questionable acts prompted creditors to call in their loans...a third party was appointed to run the company, investigate assets and liabilities, and determine if the company is salvageable...finding a buyer in a down bourbon market for a business in deep debt won't be easy...hopefully someone will take a chance and keep it going.
In a nutshell the Weavers are blaming their bank for letting them rob it...the legal wrangling is immense, the Weavers had a very tangled web and are using any means possible to keep it tangled...it is said that through various investment companies, some real, some not, they got 20mil from Jay Z and he might be a prospective buyer...20mil is a nice down payment but I suspect it is long gone....the brand is dormant right now, in desperate need of those with marketing expertise to make it relevant in a tough market.I recently heard about the companies fall from grace. I guess hubris got the best of Fawn Weaver as she was fired in June.
Mr Beard, from the Worldwide Texas Tour of 77 to the Cheap Sunglasses at the Greek and a few shows in between thanks for so much damn fun, RIP.
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