More (bankrupt) Leap buses hit the auction block
We already knew that failed Muni competitor Leap was auctioning some of its buses. Now comes news that Leap filed for bankruptcy last summer. The Examiner has the story:
In bankruptcy court filings dated July 15, Leap Transit filed under Chapter 7 of the United States Bankruptcy Code.
The now-defunct company’s assets and liabilities were both estimated to be between $100,000 and $500,000, according to bankruptcy filings signed by Leap founder Kyle Kirchoff.
And so, once again, a shiny, distressed-wood-having, ADA-challenged bus can be yours. That’s right, more Leap buses are up for auction. It’s unclear whether any bids are in yet, and the opening bid is listed at $5 (cheaper than a single ride on a Leap bus, back in “the day”!).
We had a hunch things wouldn’t go well for them when, on Leap’s second day in operation, it, uh, needed a tow truck. Ouch!
Read the whole story on SF Examiner.
Photo by Yarbs
According to another article I read about Leap buses being offered for sale, the cheap buses have trouble starting.