Status of CR II Sale, Restart

cobraduke · #1 (**permalink**) 02-12-2009, 06:59 AM

Taking the liberty of posting a quote from DV's post in CR Soft Top thread on Feb 9. Thought everyone would more likely get the news if it became highlighted as a separate thread.

"Gentlemen, the news has come in and it isn't good-broke my heart. I too felt like I have been "lead by the nose" for a year only to find out last week all contracts, deals,financing to buy CR's is either "bull" or has simply failed. We are no better off than we were when Don was forced to close his doors.

"I gave the gentlemen over a week to post the bad news here and he hasn't so once again it seems to have fallen in my lap. I have nothing more to add, I can not even dream of getting the money at my age and condition. To hell with age issues, if I wasn't dealing with a stroke every day of my life I would go after the company with a vengance.

"As we all know it IS one of the best Cobras on the market. The only one that comes close is SF and that is because they have the money to udate and advertise-period. KMP? Entirely different car and is not made for competition against CR's. Unique and ERA are great cars but again totally different than a CR.

"Sorry to break the news but I have always said I will never lie to you. Two weeks ago I was lead to believe everything was in place and the paperwrk was ready to be signed-right!"

Perhaps there is hope when business conditions improve.

Mike

Double Venom · #2 (**permalink**) 02-12-2009, 09:21 AM

PS.....
Here we go again????? Yesterday afternoon I received another phone call.......give it one week from today and we will see what happens. My fingers are crossed, but I will tell you I had to use string to hold them together ?

DV

Cashburn · #3 (**permalink**) 02-12-2009, 10:31 AM

I don't know what the sale price would be, but is there any chance one man's size able deposit on a rolling chassis can suddenly become the funding to buy out a failed manufacturer?

Unfortunately with the current economic conditions I fear there could be many victims to come ...

patrickt · #4 (**permalink**) 02-12-2009, 11:03 AM

Quote:

Originally Posted by Cashburn

... is there any chance one man's sizeable deposit on a rolling chassis can suddenly become the funding to buy out a failed manufacturer?

I've seen LBOs with less.... <seriously>.

Scarey59 · #5 (**permalink**) 02-19-2009, 07:47 PM

Wow Cashburn...a bit of sarcasm??? I sure hope its not my money, but if it is and it plays a part in the rebirth, well lets just all celebrate. If there isn't a rebirth then there is no doubt that it will get ugly.

Double Venom · #6 (**permalink**) 02-20-2009, 02:41 AM

Still hangin' loose, with extra strings on the fingers! ??????
DV

Ron61 · #7 (**permalink**) 02-20-2009, 02:49 AM

Personally I would like to see CR started up again. A year ago I had money that I could have invested to help and would have. I don't know much about all of the legal problems, but the cars are great and hopefully someway they can be resurrected again.

Ron

Cashburn · #8 (**permalink**) 02-20-2009, 06:07 AM

Quote:

Originally Posted by Scarey59

Wow Cashburn...a bit of sarcasm??? I sure hope its not my money, but if it is and it plays a part in the rebirth, well lets just all celebrate. If there isn't a rebirth then there is no doubt that it will get ugly.

Timing is interesting... something to think about.

Scarey59 · #9 (**permalink**) 02-22-2009, 09:35 AM

Quote:

Originally Posted by Cashburn

Timing is interesting... something to think about.

Call me clueless? my timing couldn't worse...are you thinking about something else? I'm not reading between the lines...probably because i'm new to the game?

Kawika · #10 (**permalink**) 02-22-2009, 03:08 PM

any one else read the last post on the ask Don page on CRII

MaSnaka · #11 (**permalink**) 02-22-2009, 05:13 PM

Kawika,

"any one else read the last post on the ask Don page on CRII"

I don't follow. Can you be more specific?

Thanks,
John

Kawika · #12 (**permalink**) 02-22-2009, 05:37 PM

Quote:

Originally Posted by MaSnaka

Kawika,

"any one else read the last post on the ask Don page on CRII"

I don't follow. Can you be more specific?

Thanks,
John

sorry on the classic roadsters II web page go to the forums page under ask Don/ED read the last entry it clams that Don Scott has just declared to be bankrupt and the bank has taken all assets

Double Venom · #13 (**permalink**) 02-23-2009, 02:44 AM

"Don Scott has just declared to be bankrupt and the bank has taken all assets"

"Just"- as in final straw, no other options.
"Just"- NOT as in a little minute or 'Simply Oh-well'.

Trust that Don has done everything in his power to keep CR II solvent, that's why the bank gave him over two years to try and get straightened out-it didn't happen. May God Bless. I know how hard he tried, he invested everything he had!

A dark cloud has setteled over our close community. Is there a sliver of a silver lining ?
Only time will tell.

DV- I will still help where and when I can,

coosawjack · #14 (**permalink**) 02-26-2009, 03:15 PM

Ed,

I have been on the Sebring forum and there's a bunch of chatter over there that indicates that GLR is buying CR II......heard anything about this development??

I hope for the best and feel for Don since he gave it his all!!!

Coosawjack

Double Venom · #15 (**permalink**) 02-27-2009, 06:38 AM

coosawjack,

Scarey was told by 'Terry" that he, Terry was going to have the money last Friday. A week before that he amazingly told me that same thing. Come this past Friday no one can get in touch with Terry. Come Monday Scarey does get in touch with Terry and is told that all is going well....BUT he now wont have the money until the end of the March. OK, analysist.....Terry after three years and untold number of promises thinks he will have the money at the end of March, or is it just another pipe dream, OR does he actually know that Don has NOW FILED FOR BANKRUPTCY, that the Bank owns everything and he is just saying this to keep other possible buyers away?

One thing to keep in mind, it is my opinim that the Cobra people are MUCH more intuned than the Sebring guys. ( Doess that mean they are more gullible? That is a pretty strong word in this scenario-lets just say they haven't heard this same story for over 25 years! Can it come true this time...I hope so!)
DV

coosawjack · #16 (**permalink**) 02-27-2009, 06:45 AM

Thanks Ed......I don't know much about the Sebring guys but at one time I was looking for one......Just started getting a bunch of email notifications chattering about this scenario!!

Double Venom · #17 (**permalink**) 02-27-2009, 08:04 AM

From my understanding Terry owes quite a few parts there, He is a major Sebring guy vs. the Cobras but he has built some Cobras. Would you post a link here of the Sebring site?
DV

coosawjack · #18 (**permalink**) 02-27-2009, 11:21 AM

Sebringowners@yahoogroups.com

It's a Yahoo user group Ed!!

cobraduke · #19 (**permalink**) 02-27-2009, 12:12 PM

Trying to follow this soap is pretty difficult with all the code. Who is GLR? Terry?

Mike

capteddie · #20 (**permalink**) 02-27-2009, 12:25 PM

GLR=Great Lakes Replicas=Terry
http://sebring-mx.com/home.php