Belgian wrote:This is bull#$t. Isn't anybody insured against such an up-front expense?
Seems like a ludicrous risk, so where exactly did the money go, and who at the manufacturing co. saw this coming and said nothing?
I don't know much about the brewery equipment business but I'd have a hard time putting up $800K as a deposit on anything... for a relatively small company, $800K would be huge (I can't see most of these breweries having capitalization anywhere near that to begin with), so it would be highly foolish to put up that kind of money at risk.
From the press release I read, it appears that Indie's bankers (Business Development bank of Canada, IIRC) has them covered. Which suggests they are/were the banker for both sides of these equipment deals