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Old 03-22-2008, 04:31 PM   #1
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Default 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
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.
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