Fradulent?
Woollies bought the company for $25 mill from Dick Smith.
The sold franchises in country towns
They then set up company stores in towns next to franchise owners and made them pay wholesale prices higher than the company stores were selling retail.
They then sold that losing business to private equity for $125 mill
Private equity packaged it up and sold it to retail investors for $500 mill valuation
Shorter’s saw the scam a mile away but they didn’t kill that business it was carrying too much debt for a business actually worth not much more than $25 million!
Alex Jones promoting the silversqueeze, page-38
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