Shane Smith settled Vice's apparel debts for ten cents on the dollar
Suroosh Alvi · VICE: Suroosh Alvi · Oct 10, 2016 · at 25:11
Vice Media co-founder Suroosh Alvi describes how co-founder Shane Smith negotiated aggressive settlements with apparel manufacturers after buying back the company.
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“We owed all this money to these Italian, like, fashion companies who were manufacturing our clothes, and Shane went and took meetings with all of them, and figured out how to reduce the debt. So he's like, well, I know you want 200,000. I've got 20. Take it or leave it. Sue me or take the 20 grand. And that's how we worked our way out of that debt and that time”
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