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Exotic Cars at Caesar's Palace File Bankruptcy!

Updated: New York, Mar 22 16:08London, Mar 22 20:08Tokyo, Mar 23 05:08

Exotic Cars at Caesar's Palace Las Vegas Files Chapter 11

Exotic Cars at Caesar's Place LLC, whose Web site says the showroom has 7,000 visitors a day, filed a Chapter 11 petition on March 12 in Las Vegas.

Located at the Forum Shops at Caesars Palace in Las Vegas, the company listed assets of $1.8 million and debt totaling $9.6 million.

The company says it sells cars from makers including Ferrari, Lamborghini, Rolls-Royce and Lotus. A court filing said $1.28 million is past due on the lease for the showroom.

The case is Exotic Cars at Caesar's Place LLC, 08-12226, U.S. Bankruptcy Court, District of Nevada (Las Vegas).

One forum member where I read this stated this

Quote:

I have been told on a square foot basis that the Forum Shops are the most productive retail space in the USA. Therefore, I have to assume, the most expensive. You have to move a lot of goods to pay that kind of rent. How do you get $1.28 arrears in rent?
Seemed they where trying to make money by selling a chance to peak at the cars from a catwalk, and selling t shirts and caps.

How do you end up 9.8 million in debt with a store that sells t shirts. Sounds like someone isnt getting their consigned car back.

I wouldnt pay the ten bucks to go up close so maybe its all my fault.

I went to a showroom at the Imperial Palace, but I had no idea there was one at Ceasars as well.

so where did all the money go???? 2+2=9.8mm

These guys were "no good" from day one. it all looked like a nice bowl of cherries but this Weisman chap smells like the ultimate culprit. He swindled his money guy in the beginning before opening according to court records, stiffed a few others (Holmquist) as well as really put it to a host of creditors, big and small. Its too bad, it could have been a great attraction but it tutned out to be a huge disappointment. Oh well!

Quote:

Originally Posted by nthfinity (Post 823062)

Been there and lets say is a bit underwhelming. They were charging like 10 bucks to walk around the cars, which some werent even that close to see. I have been to better car shows for free.

Everything else there was grossly overpriced.

Thanks for the post guys, good job!