How Domainers Can Profit From Companies That Go Bust!
December 4, No Comments - Author: Simon JohnsonIn my opinion, the GFC presents us with an opportunity to make some serious money. Consequently, when I came across this “text book case” of Joe’s Sports, Outdoor & More – I just had to share it.
Bricks and Mortar Goes Bankrupt
The Oregon retail outlet “Joe’s Sports & Outdoor” filed for Chapter 11 around March 2009. The company listed both assets and debt ranging from $100 million to $500 million. It apparently owed its 30 largest unsecured creditors a total of $12.8 million.
Domains Acquired
Alberta-based UFA Co-operative Ltd acquired the domain names JoesSports.com and GIJoes.com. They outsourced the fulfillment to GSI Commerce – the same company that did it for the old bricks’n'mortar Joe’s. Essentially all that UFA Co-operative Ltd does now is sit back and earn a commission from all the sales.
A great story – very smart.
Sources: Oregon Live and Oregon Business News.
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