u/Dangerous_Deal_1945

The merchant cash advance industry may have just experienced one of its biggest blowups to date.
According to bankruptcy filings and industry discussions, Simad Holdings and the related Damis entities have filed for Chapter 11 after a rapid financial collapse that has reportedly left more than $235 million in outstanding MCA obligations owed to approximately 20-30 funders.
The company, owned by brothers David and Michael Shabsels, built one of the largest privately owned summer camp networks in the U.S., operating roughly 30 camps along with a broader portfolio of approximately 80 real estate assets, including office, retail, multifamily, and hospitality properties.
For the MCA industry, the concern goes well beyond the bankruptcy itself. DailyFunder participants report that many funders had significant exposure, with some allegedly holding eight-figure positions. If those reports are accurate, this could become the largest merchant cash advance loss the industry has ever seen.

https://dailyfunder.com/showthread.php/32105-Simad-Damis-Collapse

https://therealdeal.com/new-york/2026/06/30/inside-the-shabsels-brothers-200m-summer-camp-bankruptcy/

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