How does a media company owe $1.2B? I'll explain. When Hoonigan declared bankruptcy a part of my childhood broke. For some reason, I never thought it would happen even though they were bought out in 2021. I remember going through some struggles of my own and hoped that following their path might help me make my own personal decisions. Turns out, they were just as confused as I was.

Today's video is another tin hat conspiracy, but I would love to hear your thoughts below on this one. The 27 brands as well as the 1,000 or so employees are about to go through quite the change and above all else I truly hope everyone makes it out alright. If you're a PE firm or you're a silly founder that thinks you can buy any company and make it successful, you need to kick rocks and stay in your lane.

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Timestamps
0:00 Hoonigan / Wheelpros Declared Bankruptcy
:30 How The $1.2B Debt Impacts You
3:00 What is a Chapter 11 Bankruptcy?
4:00 Who Does Hoonigan / WheelPros Owe Money To?
6:20 Just How Big Is Hoonigan / Wheelpros?
7:30 Why Hoonigan Was In Trouble Before This...
9:20 How Will They Get Out Of Debt?
11:00 Why This Stinks For Everyone
12:00 At The End Of The Day You Need To Be Crazy For This To Work.

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All video owned or licensed by Alex Martinez