It is on the book for ~$3.85MM, which is around 2-3 months of sales. If FD goes belly up 3+ months after the close of the transaction, it will be difficult for customers to go after IVFH, as they would have bought their meals from the new entity
I could be wrong but IVFH would be a creditor and equity owner. FD would go into bankruptcy and the rest would flow from there. Doubt IVFH would be responsible for anything although I'm sure our lawsuit happy society would try to find a way.
Bottomline, Sam needs to show core business is strong and growing. FD in essence was written off as a bad mistake. We shall see how quickly IVFH can recover.
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