Kruse International, the major leagure auction company that hosts a yearly car auction that it bills as the “world’s largest” is on the verge of financial collapse as it is staring down more than $10 million in debt.
Dean Kruse claims that buyers, some of whom have been buying from him for more than 20 years, owe him a combined $6.5 million. The $6.5 million would be good to have but it would still leave him millions and millions in the hole. Apparently he has a couple of “nuclear option” cars in his personal collection that could be sold for whopping sums to help cover this current set of problems. Needless to say, there are lots of angry people right now.
The Journal Gazette of Ft. Wayne, Indiana has all the details, except the one about where Dean Kruse is going to come up with all the money he is carrying, in a hurry.
