- Report: #415569
Report - Rebuttal - Arbitrate
Complaint Review: Broadcast Store
Broadcast Store9420 Lurline #C Chatsworth, California U.S.A.
Broadcast Store ,BCS Company bankrupts itself and reemerges under new Corp shell stealing your money or equipment Chatsworth California
*REBUTTAL Owner of company: Broadcast Store, Inc does not exist.
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After the latest bankruptcy they company moved from Glendale to Chatsworth CA and announced it's under new management. JP Claude is the son of Lou Claude who founded BCS. Lou is still running the business with his scrupulous business practices but hiding behind his sons name who has no idea how to run any business.
The manufacturers and other people in the business have confirmed that it is Lou Claude running BCS.
In 2001 Lou Claude fraudulently bankrupted BCS after about $4 million dollars of company assets vanished and I was told by reliable sources, taken out of the country. Lou Claude is not a US citizen. Prior to the bankruptcy Lou Claude the sales staff at a meeting that he wanted to increase the consignment inventory as high large as we could to fill the shelves. Equipment came in and PO's or consignment contracts were written by the dozens. The morning of the bankruptcy being filed in court was the first time the sales team knew what was going on and all the equipment brought into the store was now property of BCS by default courtesy of the US Bankruptcy Court.
BCS owned the building they were located in. Days before the court filing the building was transferred into a new Corporation owned by Lou Claude's wife to protect the building from the Court. During the time period of the bankruptcy Lou was able to pay himself $20,000.00 a month as "rent" to his other Corporation holding the building. Not a bad income when you've now screwed your employees, venders and clients.
BCS was bought out of bankruptcy by Lou Claude for a few 100,000 a few years later and a new bankruptcy was filed in May 2008. This time it was not filed in the US Court probably because it would have not been allowed or because it would have sent up flags. Instead it was handled through a business mitigation firm that distributes "assets". Of course BCS had no assets because the building was in a different Corporate name and all the good equipment was removed from the shelves and probably "stored" in the warehouse that now houses the "new" BCS. If you look at their website and have followed the new BCS and the old BCS, you'll see many of the same items still available for sale.
Don't be taken by Lou Claude or BCS / Broadcast Store. Don't believe for one moment that BCS is under new ownership or management. It's the same old game by the same player only now he's hiding behind his son's name.
This report was posted on Ripoff Report on 01/24/2009 03:23 AM and is a permanent record located here: http://www.ripoffreport.com/r/Broadcast-Store/Chatsworth-California-91311/Broadcast-Store-BCS-Company-bankrupts-itself-and-reemerges-under-new-Corp-shell-stealing-415569. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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