The Regal Brand Inc. revealed setbacks in their plans to acquire a local car wash in Sterling Heights. In April the Michigan based corporation announced plans to launch a chain of car washes in the Metro Detroit area and later announced that a location of interest had been identified.
“We were only in the strategizing phase; I wanted to make sure it was a good investment. At this time I feel it’s best to hold out for a future opportunity.” Myron Clark, CEO of The Regal Brand Inc., said in a comment.
Mr. Clark did not rule out the possibility that the deal could be revisited in the future but now intends to showcase his vision for the rest of his company. “We’re still seeking investors and partners; there’s 5 other divisions of The Regal Brand; I’m going to share my vision for each of them.”
Despite the setback in acquiring a potential property for Sluice Auto Wash & Detail Center the company is still raising funding, Mr. Clark said that samples of branded merchandise are due within days from the supplier. TRB Inc. won’t solely be depending on investors for growth Myron is looking into ways to create his own cash flow. “If we get investors early on, that’s a win, that’s great; but we probably won’t. I have to be realistic in my thinking and at least be prepared to get it by myself. That’s why I’m moving forward with the logo’d merchandise and I’m still going to donate those masks.”
The Regal Brand Inc. is a multifaceted corporation with a family of companies giving back to the communities they serve.