candlelady Posted November 4, 2010 Share Posted November 4, 2010 Finally!They take over 1/1/11. I''m still taking care of the holiday orders and having a going out of business sale in a few weeks to clearance out what I have left.What doesn't sell at my sale (tart warmers, candle warmer lamps and other misc. supplies that are not going with the company) will be put in the classifieds towards the end of November.I'm so happy I was able to sell it and all my wholesale customers are staying with the candle line.We will sign the papers w/in the next 2 weeks. Quote Link to comment Share on other sites More sharing options...
Bernadette Posted November 4, 2010 Share Posted November 4, 2010 Congratulations to you!:yay:I know you've been trying, so it has to be a tremendous relief. Best of luck in the future. Quote Link to comment Share on other sites More sharing options...
wildwings Posted November 5, 2010 Share Posted November 5, 2010 Congrats, what a great feeling! Quote Link to comment Share on other sites More sharing options...
Kitn Posted November 5, 2010 Share Posted November 5, 2010 Congratulations to you.. Quote Link to comment Share on other sites More sharing options...
soshiegirl Posted November 5, 2010 Share Posted November 5, 2010 Congrats to you! Quote Link to comment Share on other sites More sharing options...
islandgirl Posted November 5, 2010 Share Posted November 5, 2010 Finally!They take over 1/1/11. I''m still taking care of the holiday orders and having a going out of business sale in a few weeks to clearance out what I have left.What doesn't sell at my sale (tart warmers, candle warmer lamps and other misc. supplies that are not going with the company) will be put in the classifieds towards the end of November.I'm so happy I was able to sell it and all my wholesale customers are staying with the candle line.We will sign the papers w/in the next 2 weeks.Congrats on the sale.. Question: Is your inventory included in the sale? If you sign the papers in two weeks, are you able to sell off you products after that since they will be the new owners. Quote Link to comment Share on other sites More sharing options...
candlelady Posted November 5, 2010 Author Share Posted November 5, 2010 The effective date of the sale is 1/1/11. I can do whatever with my inventory until that date and still use my co. name. The new owners are aware that I am still the owner until that time. Quote Link to comment Share on other sites More sharing options...
islandgirl Posted November 5, 2010 Share Posted November 5, 2010 Curios as to why a buyer would sign papers 2 months ahead of the effective date only to let the seller continue to sell off all the inventory baffles me.What are you selling the buyers if your selling off all your inventory?I sold a boutique store I once had and we had to give them a detailed list of everything in the store from the floor to the ceiling. The papers were signed and they owned everything that day.Now I did stay on to help them with the biz for a month , but they owned the entire store including all inventory. Quote Link to comment Share on other sites More sharing options...
candlelady Posted November 6, 2010 Author Share Posted November 6, 2010 (edited) The sale is based on a list of everything they will get for the price they are paying. Whether I use some of it now or not, they will still get these items when they take over. They are not getting any candles already made, only supplies to make them.I don't have a store, so there's no shelving, ceiling fixtures, etc... Just supplies to continue the line for the first year, training, etc.. , the co name and website, etc...Since they are not set up for pour, I am pouring for the rest of the year, as many of my wholesalers haven't placed their holiday orders. By the time they take over, there will be no more inventory, I'd have sold it all.The only part of my company they are buying is the 9 oz and 16 oz mason jar candles. The tartwarmers, tarts, etc... are not going with it. Edited November 6, 2010 by candlelady Quote Link to comment Share on other sites More sharing options...
asheebeans Posted November 6, 2010 Share Posted November 6, 2010 (edited) Congratulations! I have been downsizing my biz lately because of time constraints. I figure I can pick it back up where I left off when I am done with my degree. I'm surprised I don't miss it more than I do. I'm sure you will find other creative pursuits to fill your time. Best of luck! Edited November 6, 2010 by asheebeans Quote Link to comment Share on other sites More sharing options...
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