This is laughable. If they were for sale, the payroll shows. I sold my company and know this. sm - ex-MTSO Posted: Jan 28th, 2017 - 6:47 pm In Reply to: Furthermore, they are holding the pay so that - it looks like they have an asset
When selling a company, you have to have an accounting audit by a CPA firm. Unpaid payroll doesn't show as an asset. I also laugh at the posters who have claimed that no one would want to buy KS because of debt. It's like selling a house; if you have a mortgage or liens on your roof, for example, those get paid first at closing. Closing a company is the same and is done through an attorney and/or closing company. Debt gets paid before the owners get a penny. From public records, their debt is nowhere near their revenue, actually less than most companies of that size. Just takes a little digging to get this information if you know where to look. To me, it all sounds like cash flow, something that can be fixed with the right budget and accountant.
As a side note, I looked into buying KS two months ago as I think that it is a good company that could be turned around. They have big accounts, and I love that they do not outsource. I contacted the M&A company that I went through when I sold my company 5 years ago, and they contacted KS. He was told that KS is not for sale for any price, that the owner has no plans to sell. That surprised me, but to me that meant that they are OK. I still want to get back into being an MTSO. Call me crazy, but I actually miss it, even with what I see here. I think I grow a strong company again but don't really want to start from zero.
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