Last time I checked the property was listed in one of the son's names. That was about s months ago. Its not definative as could have been sold under some sort of lease purchase agreement that we are not privy to. Sure would be nice if they would enlighten us so these dark questions don't just hang there.
Also, there are one too many corporate structures here for my taste. Typically a holding company would hold title to the assets, but here we have BLLB holding Bell Buckle Country Store, Inc as well as one or two others. Where and/or what are the physical assets of the holding company? Debt from loans to the other companies. There is not a direct relationship between the financial health of the store and BLLB. The store may be doing great while BLLB is a total loss because of other bad investments; whatever those might be. Huge salaries for doing nothing for one thing. The company doesn't even have a phone, they use the store's and the store's staff. Sure would love to see the financials.
By-laws also call for an annual shareholders meeting. I hold some of this in certificate form in my name, yet have never been notified of any meetings. I have my doubts that they have observed the corporate formalities, can you say "pierce the corporate veil"? Its all a sham and as you point out, for what the company is worth (BLLB, not the store) it would not be financially sane to go after them. These guys have got to know Ed Miers from GREM! All JMHO
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