KAR Auction Services - IPO for Debt is Awful Expense
An IPO that's required to mainly pay-down debt creates an undesirable expenditure.
This past year KAR had a net lack of $169.9 million, with many earnings produced by reducing prices and costs. Revenue were also along more than 3%.
Most of The used car sellers that backed KAR have vanished. Furthermore, KARS floor supply, Automotive Finance Company (AFC), has prosecuted hundreds, or even thousands, of the car or truck sellers that had backed them.
That results in a disintegrating business-plan along with a bad expense.
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