There was an interesting article in yesterday's newspaper about the new estate that Lazy Days' founder Don Wallace is having built in a nearby community. Just a small abode...27,008 square feet. Two pools, sauna and steam rooms, elevator, bar, billiard room, bowling alley, gym, game room , men's lounge, etc. In total, 40,000 sq. feet....the 27,000 number is just the heated portion. Their current home, of 13,000 sq ft. doesn't give them enough space for their young children to play...hence the need for a new house. What a great rag to riches story Mr. Wallace's is. He started Lazy Days in 1976 with $500, a mobile home and two travel trailers. The business grew to a company with annual sales of $800 million and its 126 acre complex in Seffner became the largest single site RV center in the country. The economy has put a hurting on the company though. The company laid off more than 200 employees (maybe Mr. Wallace would like to invite them to his new house for a BBQ). In September the CEO of the company struck a deal with bondholders to eliminate its $137 million debt through a prepackaged Chapter 11 reorganization. Mr Wallace sold portions of the company inn 1999 and 2004 but remains a primary stockholder.
Construction is expected to continue another 2.5 to 3 years before the project is complete.
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