In 2011, after Big Dog Motorcycles went bankrupt, founder Sheldon Coleman started a small company in one of Big Dog’s former warehouse called Big Dog Motorcycle Performance Products (BDM), selling parts to Big Dog owners to maintain their bikes.
For his new venture Coleman took new loans from Intrust Bank totaling more than 20 million for a monthly payment of $90,000 secured by Big Dog buildings and several of Coleman’s investment and personal entities. On Oct. 15, 2013 Intrust Bank started a lawsuit to foreclose on the real estate. On November 1st, a Judge transferred all Big Dog Property, all equipment and 7 remaining motorcycles kept in the window of one building, to Intrust Bank.
The parties have agreed that the property transferred represents only a value of $860,000 against the total debt. The judge has still to decide the status of other collateral offered by Sheldon Coleman to secure the loans. BDM Performance Products was never a profitable business and consequently shut down on November 1st.