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Malcolm Bricklin was never really quite sure where it all went wrong, although his investors have a good idea.
Bricklin’s dream of beginning an automobile manufacturing company on the east coast of Canada was supposed to be a can’t-miss venture. But by the time Bricklin Vehicle Canada folded in 1975, Bricklin’s bankruptcy petition listed $2,000 in assets and $32,354,870.03 in debts.
A rifle, wrist watch, skis and some clothing were the only assets he noted. His debts included three bank loans of $3 million or more and another few million from private investors.