Cork & Olive’s Probst Abandons Franchisees
Cork & Olive Wine Shop Franchise Owners Left High & Dry Michael Probst, franchisor of the Cork & Olive wine shop franchise chain, has shuttered his eight company stores, closed the corporate headquarters and laid off 40 employees.
The nine Cork & Olive franchise owners had an emergency meeting this past Wednesday to figure out how they can survive the demise of their cash-strapped franchisor. The Orlando franchise owner has only been open for a week; other owners in Florida were preparing to open their stores when they got the news.
According to an article in the St. Petersburg Times:
Cork & Olive president Michael Probst said he had been working on the assumption a New York hedge fund was going to invest about $3-million in the company. On Friday, however, the group insisted it take on controlling interest as a condition. Probst balked. On Monday he shut down corporate operations including the headquarters on Race Track Road and company-owned stores in Brandon, Countryside Mall, Largo, Oldsmar, St. Petersburg, Wesley Chapel and South Tampa.
“It’s unfortunate,” Probst said. “We are still trying to get financing, but my conscience would not let me have our people continue working when we were short of money and could not support our franchises.”
Probst started the company in 2004 based on the idea of using wine tastings in a comfortable setting to sell moderately priced wine by the bottle, along with olive oil and spices. Most of the offerings are European, Californian and Australian labels that are thinly distributed in the United States. Cork & Olive, which had a plan for 20 stores soon, started selling franchises in 2006.
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I think it more of the same, just change the name of the franchise du jour….
And I had such high hopes for this franchise!
K
Mike Probst doesn’t care about his 40 employees he fired or all the money the franchisees have spent. He only cares about himself. I looked his name up in myflorida.com and found out he has a judgement filed against him and the company for $800,000. and another one for 30,000. He also sold franchises when he had pending lawsuits against him and the company. He is the worst kind of human. He preys on people that want a better life for themselves and their families. Instead of him giving up controlling interest he would rather put these good peoples lives and families in jepardy. So as I see it he should go to jail. Why isn’t the FTC stepping in and finding out why he was able to sell to innocent people when he knew the company was going under?
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Cork and Olive is supposed to be bringing in their wine from small vineyards, the company brings it in through Probst other company Vinocean Corp. which is owned by Probst and his friend Rainer Appold, but of course Probst isn’t listed as an owner??? Why because that would be illegal.
Wanda,
would you mind contacting one of the franchisees from either valrico, sarasota or lakeland??
we would very much like to talk to you.
Thank you
Just wanted to know if anyone from the state attorneys office has looked into this company and Probst business practices.
He mentioned a number of times how “he” imported the wine in. That is a no no. Can’t legally import, distribute and sell. Also he has many notes owed to people that loaned him money to build the stores, (high monthly payments) and was heard saying he would pay them very little and then when they got very upset he would offer them a small settlement. This he said is how you do it, “they will take anything if they think they aren’t going to get anything”
Also he is currently in several lawsuits with stock holders in Estate Wine Group and Cork and Olive Franchise Corp., and him personally.
Sometimes even CON MEN come up with a good concept. Too bad he hurt so many people along the way. He doesn’t care that the franchisees have taken out loans, mtg. their homes and don’t forget signed personally for five year leases for their stores. On the website it states the cost for a franchise is up to $311,000. but it cost so much more. How does he sleep at night and why isn’t he in jail?
Michael Probts is a crook. I feel horrible about what happened to the employees. He doesn’t care about anyone but himself. He owes many people a lot of money. What kind of company sells junk bonds. He fired his former CEO, because he wouldn’t comply to the illegal practices. He will be doing a lot of time in prison, hope the little man finds a big protective boyfriend.
-Don’t drop the soap Michael.
Wanda,
Are you a former employee? Why didn’t the litigations go public? How was this kept a secret for so long.
What is going to happen to the franchises that were sold? Will they be able to stay in business especially after the name Cork&Olive has been destroyed?
I am not at liberty to say about possible employment. But, I do have insider knowledge. Today I was informed the ABT has an order that C&O can not purchase wine or sell wine.
There are other franchise concepts and brands that survived the collapse of their franchisor. In this case, the franchisees may be better off without Probst – and royalties. One way is to form a franchisee co-op that acts like the franchisor (in some functions) but is owned collectively by the franchisees.
The Ground Round restaurant chain did this successfully not that long ago. Straw Hat Pizza did it many years ago and survived. Franchisees should look into the Ground Round case and possibly talk to the attorney Craig Tractenberg who put it together. If the concept is viable and franchisees can gain control of the intellectual property, this would be a good way to go. If you’d like contact info for Tractenberg and for someone who puts together franchisee marketing co-ops, email unhappyfranchisee[at]gmail.com.
Use that email address to send links, documents and information you’d like to share about Probst, the other lawsuits and the Cork & Olive. I’ll be setting up a Cork & Olive category here where you are free to post and discuss your situation. FranchisePick.com is a high traffic franchisee-friendly site that’s widely read by the franchise industry and media. Get them good info and they’ll get the word out.
Rick,
I am sorry I can not contact the franchisees. But please band together and get an attorney to inform you of your rights. You may not be able to recover any money, but you can continue with a wine and olive oil bussiness and make it better than before. Good luck.
Everyone would be better without Probst. No one should do business with this man. Wanda- when you say C&O can’t sell or purchase wine, does that apply to the franchisees? I don’t think the purchase would be an issue, they have been moving wine from their older stores to fill the franchisees stores. The Carrollwood store was filled with wine that had been sitting on the shelves for over a year in clearwater. In this case, you don’t get what you paid for.
If you have questions… call Michael Probst himself 813-731-5130.
btw ask him if he want the bottom or top bunk in his cell.
The franchisees are represented individually and we are talking to a trademark attorney about the pros and cons of continuing with this trademark. Additionally, there are several interested suitors that are interested in the concept once unencumbered. With Michael is out of the way, we feel we can take this thing to the next level.
Each franchisee has their own liquor license and can legally make purchases for their individual stores. In addition, the distributors have really stepped up to the plate to help us out.
Rainer Appold of VinOcean, Michael’s longtime business partner, is employing strong arm tactics geared to scare the franchisees (saying he is buying the company, threatening to strip the trademark from stores that do not support him, etc.) but his efforts are transparent to all and the authorities have been alerted.
Thanks to all for the info being posted. The majority of the franchisees are committed to working together and pooling our talents.
Send both of the Germans home!
Good luck with your stores and I will be sending more info.
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Who is Mr. Dunn,
How has chapter 11 been filed but it already has a new Presidente>
Jay Dunn
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Dear Rick…
just so you really have the correct informatoin……michael probst has NOTHING to do with VINOCEAN… thought it seems he might….so please make sure you get your information correct before advertising it… I know this for a FACT. Besides… Rainer appold is actually quite peeved with his buddy and soon you will get the real scoop—–STAY TUNED.. IT’S ALL GONNA COME OUT MR P AND MS N…. WATCH OUT! ;P
I understand he is no longer connected with Universal/VinOcean. However, Appold’s modus operandi is just as sleazy as Michael’s and his long time association is a curse. The core franchisees will not do business with him.
He is selling remaining stocks of wine to selected franchisees at a discounted rate. Several of the weaker units are taking advantage of this. So what? at the very least this limited wine selection will be exhausted and his threat to sell to publix can become reality as far as we are concerned.
We are making relationships for the long term with only reputable importers/distributors from this point forward.
There are other factors being scrutinized by the DA at the moment that will be made available soon. These issues involve both Appold & Probst and Mrs. Nelson.
Finally the DA is stepping in.
Oh yes, Probst is part of the Universal/VinOcean Co. Not on record of course but as every former emp. knows the warehouse was Michaels. And let us not forget the man that ran it was Michaels former manager at the St. Pete store. Nelson knew all about how to get money from anyone that had a buck. She also knew Michael was a crook. Which also makes her a crook. I over heard it said that the two of them borrowed money for payroll and promised to pay it back the following Mon. The money was paid back many weeks later after a lawsuit was threatened and Michaels attorney friend was also called.
Look at Nelson’s credit card bill, most of it is Probst using her credit for everything. Poor stupid woman. She was so interested in being the VP and driving that Benz that she would do anything. By the was check out her former/present business-selling sex toys on the internet. Wow, such a nice girl.
Dear Wanda,
Regarding “who is j dunn?”…. .as a distant former employee…j dunn was a manager at the valrico location… let’s say about 3 years ago. I dont believe he has anything to do with the company anymore. So i’m not sure how his name was even brought into this mess. I do know for a fact that he hasn’t been affiliated with the company since his departure. interesting about the “st pete store” man… and yes.. we know who you are referring to at vinocean…..we are also aware that money was borrowed for payroll many times and typically from the same person… or should I say… same woman…. and by the way… to set the record straight… Ms. N is not a VP on paper…maybe in her poor stupid mind she is.
Dear Silent,
Wonder if Ms. Debra and her husband ever got paid back? She only made $200. a week, not nearly enough to pay for her face lifts. Why the heck would she stay? Maybe a roll with Probst?
Now, that Probst will not be able to control the franchisees they will be able to pick wines they enjoy. Heard him say many times that the wine at the store was “piss” and the “dumb Americans” that buy them don’t know good wine. Glad the dumb Americans entertained such a “smart” man.
Tom Ronzino is still listed as CEO, wonder why since he was fired. And why was he fired? My guess he wouldn’t go along with Probst business practices. Also his daughter worked there as well. She left the co. and had the office girl sign her resignation letter that said she left because of illegal business practices.
By the way all his cars are leased, but the house he bought with the money from the franchisees. It isn’t homestead. Unfortunately the market is down so the small house isn’t worth much. But he did bring over his belongings from Germany. So act quickly, maybe something is worth selling.
By the way for any policeman or woman that would like to write a hefty ticket for drunk driving, be sure to stop the man in the white cad. as he swerves down the streets of Tampa. G53YDU.
Wanda..”Why was Tom Ronzino fired?”, you ask – maybe it’s because he was a decent man who didn’t go along with Michael paying his own mortgage through the business instead of paying worker’s compensation, causing a lapse in coverage..hmmm..typical Michael – always looking out for himself!
Wanda whoever you are – all the info you’re posting is absolutley correct.
Never could figure out how come he never got nailed for DUI.
I don’t want people to forget about Deborah Augenti, she is just as guilty as probst, and nelson. why haven’t charges been brougt to these people? i can’t understand how this could go on and none of them get caught?
ps wanda whoever you are. thanks you for all your honesty. I know that mike was very smooth with all his talking and ahhhhh and paused sentenses. I always had that little feeling inside things weren’t right. debbie what a lady”welcom to the cork and olive family” thanks for taking us for our money! i am so frustrated, i can’t believe these people sleep at night. i know that i am not sleeping thinking of all the money we have lost.
as far as what mikey has to offer. no thanks on that beat up caddy, what a high roller he thinks he is. does anyone know if he is still around?
A new article was published in the OBJ. It discusses the debt of the company. In addition to the 2 million of internal debt, the $500,000 of operational debt, Probst also is in debt for the surly dissociation of partnership with Ronzino. Ronzino never received liquidation of the original partnership intentionally ignored by Probst.
Ms. Neslon is a VP on paper, infact almost all of the beverage licenses, permits & internal documents list Nelson. I hear she is “moving” to California. That isn’t far enough away to escape 10-20 in prision for fraud.
Published in the OBJ, Probst commented “I had too much belief in only one source,”.One source, is that code word for “the hundreds of individuals you screwed royally” ?
Probst is still around, or at least answering his phone. Called the number published the other day. He answered. Does he really think anyone would do business with him in this country.
Wonder if he ever paid his attorney’s? I keep looking on Sunbiz to see if there are more lawsuits listed. The attorneys in town must love crooks like him-so much business.
His address is 418 Cascade Lane, Tampa, Fl. 33635 in case you would like to send condolence letters. (public record)
Michael is definitely still around..going to the same upscale restaurants. In the past week he’s been seen eating in Tampa at Cafe Amaretto and Mise en Place. Nice place America… And, Wanda, although the street address is correct the house is actually located in Palm Harbor -Village of Woodland Hills development- to be precise. As far as Ms. Augenti goes..she’s obviously just an extremely bored woman with a LOT of money that she doesn’t know what to do with. I’m sure Michael will rope her in to something and swindle her and her husband out of their fortune as well. Run, Deborah, run..while you can!
Any attorney with a vested interest in the company will stand by him apparently till the end.
I drove by the office the other day… seems Mr. P is afraid to park in front… and now parks in the back? say whut? lol. chicken little with a fat wallet?
was told Ms. Nelson left last night for her 5 week excursion… and Ms. A is entertaining Mr P by herself…. wonder if anything else is going on there? hmm. I still wanna know… WHERE IS MY LAST PAYCHECK MICHAEL????? YOU HAVE NO BALLS TO EVEN CONTACT US TO LET US KNOW THAT YOU ARE WORKING ON PAYING US…. FOR YEARS WE STOOD BY YOU, KNOWING HOW STUPID YOU WERE BUT WE NEEDED A JOB AND YET IN THE END… YOU STILL SCREWED US!! COME ON…. SHOW ME MY MONEY!!! or do not pass go and do not collect two hundred dollars (of my money) and go directly to jail … ever hear of that game big shot??????
A little more on Nelson. She was warned more than once that she would be “the fall girl.” Everything was in her name and Probst used her credit card like it was his own. I feel sure she too has been left out to dry. Right now she isn’t saying anything, although a source tells me she is reading the messages and crying her eyes out. Poor thing, she got caught and is now worried about her butt. She knew everything about the company and went along with what ever Probst yelled at her to do. No backbone at all. She helped steal from the franchisees and from the countless others that gave their hard earned money to Probst.
He used to make “nice, nice” calls to the next victims and told them stories until their eyes spin about the great company. Then looked them straight in the eye and told them “YOU WILL MAKE MONEY, I GARENTEE IT.” As he got worked up and spit on you as he talked. Heaven forbid you disagree, then the vein in his neck would stick out. Oh, don’t forget all the expensive restaurants he would take you to, Order many bottles of expensive wine, hoping all the while to get your money. Lets list his favorites, Ponce Tuscan Grill, Caffe Amaretto, Donatello and Mise En Place just to name his regulars.
Ms. nelson should cry her eyes because she also back-stabbed all the employees. told them things to there faces and then went back to prost to report and then back to the employee again to say “michael thinks you aren’t right for this job so pack up and leave.’ you are right though, she has no backbone and should be concerned for her freedom, but then again, she’s now in CA with her boyfriend/future husband? and where is the other two faced woman, guess??? standing right next to michael i’m sure and planning their next victim attack!
Ya know, something has got to happen soon before PROBST leaves the damn country———————-what’s happening with vinocean? they still in biz? i dont trust them either! come on law do your job!!! make em pay!!!
I am with you. Everyone should call the DA and let them know this man needs to be arrested. He has done illegal things. Not to mention all the immoral ones. Are all the newspaper articles not enough to get the DA’s attention? Isn’t this a bad business man and a con man? How much more does he have to do?
20/20, dateline, MSNBC all do stories everyday on people like this.
If anything a good book could be written. It has everything, rise to power, secrets, money, embezzling, fraud, dirty lawyers, romps with employees, elaborate spending, extortion, miss appropriation of funds, unethical business practices, and lets not forget the fall from power. Now all is needed is the bunker.
Don’t know if Rainer is still in business? It doesn’t really matter all the wine belongs to Probst.
Can’t wait to see a foreclosure on Probst house.
darn, nelson is crying! what a greedy selfless person. hope her new husband has some money!
Probst, all these sighting at restaurants. very sad we are paying for his delicious dinner and we are figuring out how to feed our mouths. good idea to call the da. i wish you could post the attorney that is involved with michael. that way we don’t wind up using the same person….
i think we should all get together and get a cival case against this sleeze, that way we are all using the same attorney.
you can’t squeeze water out of a rock
a civil case would be throwing good money after bad. the right thing to do is call the DA. tell them your story and pressure them to take the criminal case. many people have done this, it important that if you have a story to tell – tell it.
beyond lifting the incompetent encumbrance shrouding the trademark,the best we can hope to do is run michael & rainer out of the country and put stephanie & deborah in jail.
Rick is right. Put it out of your head that you will ever see any money. Let that go, move on with your lives. Unfortunately it is a lost hope.
But everyone write, call, tell the story. Go to the DA. Call the tv stations, newspapers let them know if the DA won’t do anything.
Make sure you visit your local starbucks. Sit there and have a coffee. You will make Probst so uncomfortable he will be smoking and shaking at the same time. Such a coward. Too bad he doesn’t know how to use a computer it would be great for him to read about what an A everyone knows he is.
Wanda: Don’t you think it would be quite illegal for the owner of, say, a wine distribution company to own shares of stock in Estate Wine Group in exchange for, let’s say a loan in excess of $400k??
Yes, very illegal. Just wrote a reply on Unhappy franchisee.
Just looked up Rainer Appold, funny no lic. to sell that I could find. So maybe Augenti not only rolled with Probst but maybe the other German too?
Forgot to tell- Augenti said “she wish she had bought stock and could become the CEO.” Well, you have your stock….ENJOY!
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Previous employees who haven’t received their paychecks should contact the department of labor, get Michael for one more thing… please.
Very Happy to hear that the franchisees are getting things in line and on the right track! my heart has gone out to them since they started opening their stores! I know that they have put out alot of money and belief in this company. I believe it can and will still work. There is no other concept like this around and with a few tweeks these franchisees will make it and be successful dispite the hell they have been put through! Some of the former employees will have a bit of challenge finding work I am sure! Having Cork and Olive on their resumes is not going to be such a wonderful thing. Employers thinking they were connected with Michael and the fall will not enhance their opportunities. I know that companies say they dont look at that but please…. we say we dont listen to the bad things people say about another and look! we are all on here reading about the incredible crap these franchisees are going through.. We Are Human! I know I have had alot of questions about the company and why corp. failed. The insiders do know as you can see and are sharing some of their experiences. My compassion to all the franchisees can not be expressed enough but, we should also think about the employees that believed in the company, that gave everything they had to it, worked their a…. off for it and end up with nothing to show for it but… unemployment,no insurance coverage because we didnt even qualify for cobra, no paycheck for work already done,vacation and sick leave that we saved up for taken, our integrity crushed, our families and loved ones being torn apart and all for a company that is criminal, and now we put that at the top of our resumes! Wow!
My heart goes out to all my fellow team members especially those of use who are still trying to figure out if it was a semi or a bulldozer that just hit us! Keep fighting!!!
Hmmm 20/20 does sound good!!!
Wanda and others. please contact Citizens Services, this is a complaint line 850-414-3990. They only have one complaint from 2006, so let’s all ban together and get them investigated!
thanks
also Dr. Phil has a show he wants to do on have you been scammed. if you go to the link, scroll down until you find be on the show. write in. the more people we get the more we may get our word out there!