Idleaire Acquisition Company, LLC, the new owners, will have to make drastic changes for this to work. According to SEC filings, Idleaire Technologies Corp. NEVER made a profit since they were founded in June of 2000.
Even though the debt will be wiped out, the operating expenses still exceeded the monthly revenue. At just 9 employees per site each day, with three per shift at $10 per hour for each of the 131 sites calculates to just over 2.8 million per month. Their sales revenue last year was 2.66 million per month. This does not include corporate employees, maintenance, rent, utilities, insurance, golf carts, etc. I just don't see how this will work. Maybe they need the tax writeoff.
IdleAire? What do you do?
Discussion in 'Truck Stops' started by Gazoo, Jun 5, 2008.
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