The real property, equipment, tools and other materials remaining at the former Body Masters facility in Rayne, La., have been auctioned and sold, according to a spokeswoman for the Acadia Parish Sheriff's Office.
The mortgage holder, Rayne Properties, purchased back both the real property for $843,755, as well as the equipment, tools and other goods on the grounds and in the buildings for $150,000, she told SNEWS®. Rayne was the only bidder, according to the spokeswoman. A few others showed up to consider bidding, but did not place bids at the April 1 auction held on the parish courthouse steps.
SNEWS ran a story on Feb. 27, 2009, explaining how Body Masters had shut down after three decades in business. (Click here to read that story.) In that story, we reported that Knight Companies, a Rayne-area company that specializes in oilfield and fishing tools (www.knightoiltools.com), had acquired Body Masters' bank note and had stated it was foreclosing on the property, the facility and its equipment.
Sources have since told SNEWS that ownership of all Body Masters inventory, equipment and assets were transferred to Knight and that Body Masters, as the company it once was, does not exist anymore.
The question remains unanswered as to whether Knight has any interest in continuing in the fitness manufacturing business. Knight had not returned phone calls or emails requesting information by deadline.
The Body Masters website (www.body-masters.com) was, however, still live as of April 8.
SNEWS® View: Our guess is that Knight, with its thriving global oilfield business, has gained an area building for expanding manufacturing and additional equipment but has no intentions of getting into fitness, especially considering the current economy. There are a few conflicting stories floating around about who was told what, or who did or acquired what; however, we also guess that some of the parties involved may not have been upfront about the future of Body Masters.