The Inevitable Death Of The Worlds Largest Fishing Company - Private Equity Is Brutalizing America

Описание: Today we are investigating Pure Fishing Inc, the worlds largest recreational fishing company and how its involvement with Private Equity will lead to its demise. Composed of around 20 smaller companies, this corporation has slowly been building its portfolio within the market. Currently, it holds the most market share.

As a previous employee I need to speak very carefully, I cannot go against my NDA. That is why I make sure to pose no actual accusations and only rely on information that is readily available to the entire public.

As for the thumbnail, the original background artwork was done by an artist named Seth Metoyer. I found his work on pixabay which is linked below. I made numerous modifications to his original artwork and am not making money off this video, but I still made sure to leave a donation. Check out his work here: https://pixabay.com/users/sethmetoyer...

Timecodes:
0:00 - Intro
0:43 - Legal Disclaimer
1:44 - Private Equity Disclaimer
2:24 - Private Equity
3:48 - Friendly’s and Sun Capital
6:44 - Staples and Sycamore
8:12 - Personal Discourse
12:05 - Pure Fishing
15:03 - Outro

Sources:
[1] Snow, David. Private Equity: A Brief Overview - Sturm College of Law, PEI Media, www.law.du.edu/documents/registrar/adv-assign/Yoost_PrivateEquity%20Seminar_PEI%20Media’s%20Private%20Equity%20-%20A%20Brief%20Overview_318.pdf. Accessed 15 Nov. 2023.

[2] Ayash, Brian, and Mahdi Rastad. “Leveraged Buyouts and Financial Distress.” SSRN, SSRN, 22 July 2019, papers.ssrn.com/sol3/papers.cfm?abstract_id=3423290.

[3] Ballou, Brendan. “When Private-Equity Firms Bankrupt Their Own Companies.” The Atlantic, Atlantic Media Company, 30 Oct. 2023, www.theatlantic.com/ideas/archive/2023/05/private-equity-firms-bankruptcies-plunder-book/673896/.

[4] Chen, James. “Private Equity Explained with Examples and Ways to Invest.” Investopedia, Investopedia, www.investopedia.com/terms/p/privateequity.asp. Accessed 15 Nov. 2023.

[5] Parramore, Lynn By Lynn. “Private Equity Is out of Control and Looting America. This Prosecutor Says We Can Fix It.” Institute for New Economic Thinking, 2 May 2023, www.ineteconomics.org/perspectives/blog/private-equity-is-out-of-control-and-looting-america-this-prosecutor-says-we-can-fix-it.

[6] “Story.” Friendly’s, 20 Oct. 2022, www.friendlysrestaurants.com/about/our-story/.

[7] Hannon , Eliza Ronalds, and Davide Scigliuzzo. “Sycamore Partners under Scrutiny after Pocketing $1 Billion from Staples Deal.” Mint, 11 Apr. 2019, www.livemint.com/companies/news/sycamore-partners-under-scrutiny-after-pocketing-1-billion-from-staples-deal-1555019614458.html.

[8] Dabos, Valentina. “Sycamore Partners’ Strategy Has Hurt Workers, Generated Poor Returns for Investors.” Private Equity Stakeholder Project PESP, 13 Mar. 2023, pestakeholder.org/news/sycamore-partners-strategy-has-hurt-workers-generated-poor-returns-for-investors/.

[9] Hawkswell, Anthony. “Pure Fishing at ‘elevated Risk of Default’ after 14.6% Drop in Sales.” Angling International, 13 Apr. 2023, angling-international.com/2023/04/13/sales-fall-as-pure-fishing-debt-rating-is-downgraded/.

[10] “Pure Fishing Parent Repurchases Distressed Debt.” SGB Media Online, 21 Aug. 2023, sgbonline.com/pure-fishing-parent-repurchases-distressed-debt/.

[11] “Pure Fishing Paid $153.4 Million for Svendsen Sport.” Tackle Trade World, 29 Apr. 2022, www.tackletradeworld.com/pure-fishing-paid-1534-million-svendsen-sport.

[12] Partners, Sycamore. “Sycamore Partners Completes Acquisition of Pure Fishing.” PR Newswire: Press Release Distribution, Targeting, Monitoring and Marketing, 7 Jan. 2019, www.prnewswire.com/news-releases/sycamore-partners-completes-acquisition-of-pure-fishing-300774034.html.

[13] “Pure Fishing Closes Purchase of Plano Synergy, Sells Plano’s Accessories Brands to GSM Outdoors.” SGB Media Online, 19 Apr. 2021, sgbonline.com/pure-fishing-closes-purchase-for-plano-synergy-sells-planos-accessories-brands-to-gsm-outdoors/.

[14] Popli, Nik. “Sam Bankman-Fried’s Political Donations: What We Know.” Time, Time, 14 Dec. 2022, time.com/6241262/sam-bankman-fried-political-donations/.

Tight Lines!