Originally posted by Lbean:
Did you know that Scrip Advantage was actually scrip plus? Scrip plus accepted millions of dollars in orders form schools, closed the company down and then the Coyle brothers started scrip advantage. That is the story I was told and you can actually search it on the web.
Not exactly, but close. And the cross-connections are actually deeper. Some of this is from long-ago memory, but it's fairly close.
Coyle family members were actually involved in the founding of the scrip originator -- National Scrip Center. He/they then started their own scrip center -- Scrip Plus. Scrip Plus grew like a weed, and one Christmas about 6 or 7 years ago -- after taking on outside investors -- the outside investors swooped in and shut down/locked out Scrip Plus, due to a business dispute most likely involving ScripPlus losing too much of the investors' money.
Ironically, as part of the demise of ScripPlus, the National Scrip Center purchased the remaining Scrip Plus assets (inventory PLUS a noncompete that the Coyles had signed). NSC and the Coyles fought in court about the noncompete and NSC won, forcing the original involved Coyles to sit on the sidelines for a decent amount of time.
While the brothers Coyle sat on the sidelines, the Coyles' dad -- who wasn't subject to any noncompete -- opened Scrip Advantage from scratch. As soon as the noncompetes expired some/all of the excluded Coyles got back involved with Scrip Advantage.
Now here we are again..... ugh!
Just thought I'd provide some background.
Tim