alt Hacker NewsThe original franchisee claims to have lost their life savings in that move. I have no idea how exactly that happened. Their story really sounds like something from Russia back when western investors had their company simply taken from them by someone well-connected.
It sounds like the original franchisee doesn’t want to admit that they were losing a lot of money already. Only someone really desperate would take on a $200K lego collection and only collect a 10% consignment fee. It would also explain the corporate “takeover” if they were already behind on paying their franchise fees or whatever they might have owed to corporate.
That being said, it’s not illegal to be a bad business person, and none of that excuses the subsequent behavior by BAM corporate or the new franchise owner.