It appears that there’s more to the closing of the Cork & Olive Franchise Corp. HQ than is being reported. Responding to yesterday’s post, Cork & Olive Wine Shop Franchise Owners Left High & Dry, Wanda commented:
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?
A search of the Florida Corporations database indeed revealed two judgements:
| Document Number: J07000400286 Status: ACTIVE Case Number: 07-8509 Name of Court: HILLSBOROUGH – CIRCUIT/CIVIL File Date: 12/11/2007 Date of Entry: 11/30/2007 Expiration Date: 12/11/2012 Amount Due: $897,450.53 Interest Rate: 11.00 % Name And Address of Judgment Creditor (Plaintiff) | Name And Address of Judgment Debtor(s) (Defendant(s)) ESTATE WINE GROUP, INC. 12070 RACE TRACK ROAD TAMPA, FL 33626 Document Number: P02000125981 FEI Number: 760732313 CORK & OLIVE PROBST , MICHAEL |
| Document Number J08000128752 Status ACTIVE Case Number 1000000076155 Name of Court 018533 000623 File Date 04/16/2008 Date of Entry 03/28/2008 Expiration Date 04/16/2028 Amount Due $ 11,226.56 Name And Address of Judgment Creditor (Plaintiff) | Name And Address of Judgment Debtor(s) (Defendant(s)) CORK & OLIVE FRANCHISE CORP 12070 RACE TRACK RD TAMPA, FL 336263109 US Document Number: P05000074613 FEI Number: 562515419 |
BELLWETHER PROPERTIES OF FLORIDA L P V. ESTATE WINE GROUP INC
Def PROBST MICHAEL Uniform Case: 522007CA006254XXCICI Pinellas Case: 07006254CI
Case Type: DELIN TENANT Filing Date: 07/02/07 Judgement date: 09/06/07
PUBLIX SUPER MARKETS INC v. ESTATE WINE GROUP INC
Case Type: DELIN TENANT Filing Date: 10/29/07
NORTHWOOD PLAZA LLC v. ESTATE WINE GROUP INC
Case Type: DELIN TENANT Filing Date: 06/12/08
07011013CI
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View Comments
"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?"
I wonder if that same question could be asked of a lot of franchises that are being sold as a proven model?
Companies that are losing hundreds of thousands of dollars a year-Dream Dinners comes to immediate mind... http://www.mealsassemblywatch.com reports DD LOST over $600,000 dollars last year.
Other companies see franchisees stores close at a greater rate than openings, HQ staff cuts, franchisee services cut to non exsistent and yet the GOV doesn't step in to at least investigate why these folks are continued to be allowed to sell Franchises and advertising on websites bogus "units opened" numbers.
If I were a reputable franchisor I would be as mad as hell that that ner-do-wells were ruining the reputation of the Franchise concept.
K
If I were a reputable franchisor I would be as mad as hell that that ner-do-wells were ruining the reputation of the Franchise concept.
That's a great point, Kelly. I think it will take pressure from legitimate franchisors to put the screws to these fly-by-night concepts that are hurting the industry - and stealing legitimate franchise prospects from legitimate companies.
The FTC is supposed to regulate franchiser, what happened? Probst came to America and opened many stores with other peoples money. Every corp. store had a note with a high interest rate. He never would give any potential franchisee any books or records on the stores. When the notes came due and the stores weren't making any money he tried to sell them to franchisees. Wish the franchisees would get together and demand to see his books and records. See how much corp. money he used to pay for his house, cars (Cadillac, wife's Mercedes) , expensive dinners($3-400.00) trying to impress people to give him more money. I heard he even borrowed from his employees. Unbelievable that this type of predator is allowed to walk free....
Who and where is the CEO Tom Ronzino? He is listed as the CEO and in newspaper articles but nothing else is mentioned? What happened? Did Probst fire him and the V.P. Stephanie Nelson. It just doesn't add up.
yes - tom was fired last october. he is in litigation with probst as we speak for breach of contract.
as it stands, stephanie nelson and michael probst are the remaing two employees and are "moving" inventory around. they have been collecting the franchise fees and their management of funds and their whereabouts are questionable. probsts longtime business associate, rainer appold is approaching each franchisee as if he is going to save the company. lying to each as he progresses through the chain.
for the record, there has been no official statement from the company to the franchisees.
Where is the former CEO of franchising? Michael took his money too. How many others are there? Stephanie Nelson is listed on almost all the documents & lisc. is she going to take the fall?
Suprised their Beverage License wasn't revoked.
https://www.myfloridalicense.com/wl11.aspmode=2&search=Name&SID=&brd=&typ=
2005050889 Criminal Activity 08/24/2005 Inv. Complete Official Notice 10/05/2005
2005050877 Criminal Activity 08/24/2005 Inv. Complete - Unfounded 10/11/2005
2006067024 Criminal Activity 12/05/2006 Inv. Complete - Unfounded
12/18/2006
2005050880 Criminal Activity 08/24/2005 Inv. Complete -Official Notice 10/05/2005
2005050858 Criminal Activity 08/24/2005 Inv. Complete - No Action Compliance 01/04/2006
2005050884 Criminal Activity 08/24/2005 Inv. Complete - No Action Compliance 11/29/2005
2007060498 Criminal Activity 10/24/2007 Inv. Complete - No Action Compliance 11/05/2007
2007058373 Criminal Activity 10/23/2007 Inv. Complete - No Action Compliance 10/24/2007
2006066999 Criminal Activity 12/05/2006 Inv. Complete - No Action Unfounded 12/21/2006
2006066996 Criminal Activity 12/05/2006 Inv. Complete - No Action Compliance 12/18/2006
2007059735 Criminal Activity 10/01/2007 Inv. Complete - No Action Compliance 10/31/2007
2006067023 Criminal Activity 12/05/2006 Inv. Complete - No Action No Further Action Required 06/12/2007
Criminal activity... surprise, surprise!
I don't understand why the franchisees are paying fees if wine isn't coming in. What will the company do... sue them? haha
This is listed on Orlando Business Journal
Cork & Olive Executives
Tom Ronzino [CEO]
Jay Dunn [President] What happened????
Stephanie Nelson [Vice President]
Oh it is so clear. Probst will go bankrupt, not pay anyone that he owes and then open up under another name. Great country we live in. Crooks get to come to this country steal from its citizens and then go bankrupt. I've heard it said, "If too many people give me trouble I will just go home. I am only here on an E-2 visa". Okay so the bankruptcy law will shelter Probsts from litigation, so now people go after him criminally. Nothing will protect him in that court.